The interim director of the Consumer Financial Protection Bureau, Mick Mulvaney, told a group of over 1,000 bankers and lobbyists that they should give more money in campaign contributions if they want to weaken the power of the Consumer Financial Protection Bureau, which is tasked with regulating the financial industry and major Wall Street banks. During Mulvaney’s speech to the American Bankers Association conference, he also said that, as a congressmember, he would meet only with lobbyists who had given him money. Among those who donated to his campaign were payday lenders, who gave him over $60,000. Payday lenders are one of the key industries the Consumer Financial Protection Bureau has sought to regulate.
CFPB Interim Head Mick Mulvaney to Bankers: I Only Met with Lobbyists Who Gave Me Money
HeadlineApr 25, 2018