Waters: Mulvaney is Starving the Consumer Bureau of Resources and Reducing Protections for America’s Consumers
Washington, DC, January 18, 2018
This week, the Consumer Financial Protection Bureau announced it will:
In response to these announcements, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“In just two months, as the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau, Mick Mulvaney has been busy doing everything but protecting hardworking American consumers. He even took it upon himself to rewrite the agency’s mission statement to say that the agency’s mission is to address ‘burdensome regulations.’ This week’s string of announcements, including Mulvaney’s request for zero dollars in operating funds from the Federal Reserve, reveals a clear intention to starve the Consumer Bureau of resources and ultimately dismantle it. These actions send a signal that the Consumer Bureau will no longer vigorously enforce our laws that protect consumers from being ripped off by unscrupulous financial companies.