Matt Levine, Columnist

Who Will Run the CFPB and Goldman?

Also indexing, social responsibility, blockchain and voice trading.

November 27, 2017 at 2:46 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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CFPB.

I feel like a simple misunderstanding is driving the fight over the Consumer Financial Protection Bureau. The CFPB's staff, and its departing director Richard Cordray, think that the bureau's job is to protect consumers from financial institutions. But President Donald Trump clearly thinks that its mission is to protect financial institutions from consumers. I do not think there is another way to interpret this tweet: