Consumer Financial Protection Bureau chief Mick Mulvaney says he may shut down public access to more than a million complaints Americans have made about financial institutions.
The industry is holding its annual conference this week at Trump National Doral Golf Club near Miami. Critics say a Trump appointee is helping the industry by moving to ease regulations.
The measure, which now heads to the House, would roll back federal policies aimed at protecting minority buyers from discriminatory loan terms. The vote could lead to the rollback of other rules.
CFPB Acting Director Mick Mulvaney testified before the Senate on the same day AS another CFPB employee appeared in court to argue that Mulvaney had been unlawfully installed as its chief.
An epic throw-down happened on Capitol Hill over the role of the federal government. The topic: the Consumer Financial Protection Bureau, the agency created in the wake of the financial crisis.
As a Republican congressman, Mick Mulvaney sponsored legislation to abolish the agency. Now that he's running it, he wants Congress to put the independent watchdog on a short leash.
Proposed cuts in funding for the Consumer Financial Protection Bureau come amid questions about a Trump appointee softening the agency's stance on payday lenders. Democrats vow to fight the cuts.
The new head of the Consumer Financial Protection Bureau is making the agency less aggressive in its mission. A new plan calls for it to fulfill "its statutory responsibilities, but go no further."
The ruling is the latest development in the legal fight over the Consumer Finance Protection Bureau supporters say combats predatory lending and other abuses. Critics say the agency is too powerful.