Kraninger Plans To Echo Mulvaney As CFPB Head
December 12, 2018
Trump’s new Consumer Financial Protection Bureau chief, Kathy Kraninger, said yesterday that she plans to run the agency like Mick Mulvaney did. That’s good news for bad actors and special interests, but bad news for consumers.
Kraninger plans to follow Mulvaney’s lead in how she runs the CFPB.
Reuters: “New U.S. consumer watchdog chief echoes Mulvaney as she lays out her plans”
Here’s a look at some of Mulvaney’s many disastrous policies at the CFPB:
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Mulvaney’s CFPB tried to bury a report showing that Wells Fargo has been saddling college students with excessive fees.
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Mulvaney’s CFPB made it harder for the the Military Lending Act to protect service members and their families from deceitful lending practices.
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Mulvaney tried to hide the contents of a public database of complaints about banks, mortgage lenders and student-loan service providers.
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In his first report to Congress, Mulvaney called on lawmakers to gut the CFPB’s enforcement authority and limit its independence.
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Mulvaney stripped enforcement and oversight powers from the CFPB’s Office of Fair Lending and Equal Opportunity.
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Mulvaney’s CFPB delayed debt protections for users of prepaid cards and accounts.
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Mulvaney’s CFPB asked the very companies it is supposed to regulate for their complaints regarding the agency’s investigations of suspected wrongdoing.
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Mulvaney’s CFPB suspended regulations to rein in predatory payday lenders and quietly dropped efforts to hold them accountable
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In his first opportunity to request agency operating funds as interim CFPB director, Mulvaney requested no funding.