Published On: June 8, 2018
He now crushes the voice of the only organization that tries to protect you and me as consumers.
Mulvaney protecting payday lenders and banks.
November, 2017 Trump appointed Mick Mulvaney as “acting” director of the Consumer Financial Protection Bureau, at the same time he was also the director of the White House Office of Management and Budget. June 6, 2018 Mick Mulvaney dealt what may be a death blow to the value of that organization by firing the agency’s 25-member advisory board,a few days after some of its members challenged Mulvaney’s questionable leadership of the watchdog agency. The members include prominent consumer advocates, academics and industry executives who were concerned that Mulvaney was making decisions about the agency’s future that would directly harm consumers (the very reason why the organization was formed).
CFPB has collected $11.7 BILLION in penalties against banks and large business
The agency has realized more than $11.7 billion in “relief,” meaning penalties and other items like forgiven debt balances, passing the benefits on to more than 27 million consumers.
Mulvaney has no intention of putting consumers above financial firms that cheat them.
Mulvaney wants to stop Warren’s influence
“Mick Mulvaney has no intention of putting consumers above financial firms that cheat them. This is what happens when you put someone in charge of an agency they think shouldn’t exist,” Sen. Elizabeth Warren (D-Mass.), who helped conceive of the bureau, said in a statement. Mulvaney trying to eliminate Sen. Warren’s influence on CFPB.
Payday lenders and banks are more important than those being cheated by financial scams.
Payday lenders fought, and lost, a battle to block new federal rules curbing short-term loans that critics say can trap people in cycles of debt, but under Mulvaney that “win” becomes a loss. Mulvaney sides with payday lenders.
Sen. Sherrod Brown (D-Ohio) said: “Mulvaney has proven once again he would rather cozy up with payday lenders and industry insiders than listen to consumer advocates who want to make sure hard-working Americans are not cheated by financial scams.”
About the Author: Diane Drain
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
“You folks are the BEST OF THE BEST in Arizona.” M.H.
You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process without you and Jay and God Bless you both always and stay in touch as well. You folks are the BEST OF THE BEST in Arizona.
“My only regret is that I didn’t find Diane sooner.” K.H.
I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the whole process. My only regret is that I didn’t find Diane sooner. If you find yourself in a financial situation that you can’t correct on your own, please Call Diane Drain as soon as possible.
“Filing for bankruptcy can be a stressful life event” R.A.
Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people get their life back on track. I would highly recommend them if you need a bankruptcy attorney.
Related Posts
Published On: July 20, 2022
BEWARE OF THE SECRET COSTS OF USING ‘BUY NOW PAY LATER’!! What You May Not Know About These Services Services like “buy now pay later” now account for $100 [...]
Published On: March 22, 2021
CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act Report highlights commitment to protect consumers during the COVID-19 Pandemic The Consumer Financial Protection Bureau (CFPB) released the [...]
Published On: March 1, 2021
A powerful story from one man who refused to be bullied to one of the devious debt collectors: Millions Are Hounded for Debt They Don’t Owe. One Victim Fought Back, With a Vengeance Article [...]
Published On: February 15, 2021
FTC Bans Payday Lender and Forgive Illegal Debt – Lead Express, Inc.; Camel Coins, Inc.; Sea Mirror, Inc,; Naito Corp.; Kotobuki Marketing, Inc.; Ebisu Marketing, Inc.; Hotei Marketing, Inc.; and [...]
My intention is to put you back in control of your life
Start with $0 down*. We provide affordable payment plans.
