Banks Refusing Gun Industry Business Is ‘Troubling,’ CFPB Chief Says
The agency will not be weighing in on the recent policy changes by banks, Mulvaney said.
Mick Mulvaney, director of the Office of Management and Budget, speaks during a press briefing at the White House in Washington on Friday, Jan. 19, 2018.
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Opting out of doing business with the firearms industry is “troubling” behavior from banking institutions, said Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, during a hearing on Thursday. But he said he has no desire to insert his bureau in the matter.
“It looks like we’re heading towards red banks and blue banks,” Republican Senator John Kennedy of Louisiana said to Mulvaney after discussing recent policy changes by Citigroup Inc. and Bank of America Corp. which have restricted their business with firearms vendors and manufacturers.