Dem Report Slams Mulvaney’s CFPB Role

Nov 28, 2018

Sen. Sherrod Brown (D-OH), the ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has published a 36-page report criticizing how Mick Mulvaney has run the Consumer Financial Protection Bureau (CFPB) during his past year’s tenure as the agency’s Acting Director.

The report, entitled “Pushing the Envelope: The Consumer Financial Protection Bureau Under the Trump Administration,” claims that Mulvaney undermined the CFPB’s mission of enforcing consumer protection by kowtowing to corporate interests, to the detriment of working families and seniors.

“Mr. Mulvaney is dismantling the agency from the inside, hiring a group of political cronies and paying them enormous salaries to run the agency into the ground,” the report said. “While he has repeatedly claimed that he is simply doing what the law requires, contending he will ‘execute the statutory mandate of the bureau to protect consumers’ and ‘go no further,’ a closer look shows that Mr. Mulvaney has cherry-picked the law to promote his ideological agenda and do favors for special interests. At times, he seems to ignore the law altogether.”

The report also insisted that Kathy Kraninger, President Trump’s pick to become CFPB Director, will merely serve as a rubberstamp for Mulvaney’s policies.

“President Trump should nominate a serious candidate, with real consumer protection experience and a genuine commitment to the Bureau’s mission, to lead the CFPB,” the report added.

Brown issued the report without any co-authorship by his fellow Senate Democrats. Earlier this month, he stated that he was considering a possible 2020 presidential run, noting that he was “thinking about it for the first time seriously.”

About the author

Phil Hall

Link copied

Published

Nov 28, 2018

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Nov

Houston, TX

More from

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data

Oct 02, 2026

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data

Oct 01, 2026

Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data

Sep 29, 2026

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data

Sep 25, 2026

Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data

Sep 25, 2026

Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech

Sep 23, 2026

Popular