Mulvaney Has Vilified the CFPB. Now He's Promising to Fix It
- OMB director won’t set agency on fire, but says it will change
- Regulator must protect people without choking lending, he says
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Mick Mulvaney, who once called the Consumer Financial Protection Bureau the “worst kind” of government entity, vowed to keep the agency open while making changes that protect people without choking off capitalism.
Addressing reporters at a news conference on Monday, President Donald Trump’s pick to lead the CFPB as acting director said he has no plans to “set the agency on fire.” But Mulvaney did say he would quickly change the tone at the regulator, a pledge underscored by his decision to impose 30-day freezes on regulatory actions and hiring while he conducts a review of the bureau’s operations.