Dem Report Slams Mulvaney’s CFPB Role
November 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.”
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