Tuesday, December 04, 2018

Making Murka Great Again. The Fate Of The Consumer Financial Protection Bureau.

This is the Consumer Financial Protection Bureau now, under the leadership of Trump appointee Mick Mulvaney:

One year after Mulvaney’s arrival, he and his political aides have constrained the agency from within, achieving what conservatives on Capitol Hill had been unable to do for years, according to agency data and interviews with career officials.
Publicly announced enforcement actions by the bureau have dropped by about 75 percent from average in recent years, while consumer complaints have risen to new highs, according to a Washington Post analysis of bureau data. 
Over the past year, the agency’s workforce has dropped by at least 129 employees amid the largest exodus since its creation in 2010, agency data shows.
Created by Congress to protect Americans from financial abuses, the bureau under Mulvaney has adopted the role of promoting “free markets” and guarding the rights of banks and financial firms as well as those of consumers, according to statements by Mulvaney and bureau documents.

Bolds are mine.

Mulvaney has also stated this:

“We don’t just work for the government, we work for the people,” he wrote in an “All Hands” email later that month. “And that means everyone: those who use credit cards, and those who provide those cards; those who take loans, and those who make them.”

It's as if there was a government organization called The Sheep's Protection Agency, and suddenly it was run by someone who wanted it to work to promote the interests of not only the sheep but also the wolves and coyotes which eat them.