Man Running the Consumer Financial Protection Bureau Calls for the Gutting of its Budget

Man Running the Consumer Financial Protection Bureau Calls for the Gutting of its Budget

The Consumer Financial Protection Bureau, the government agency meant to protect consumers from predatory lending and unfair business practices would see its funding completely wiped out by 2019 under the President’s latest budget proposal.  Nearly $6.4 billion in cuts under the new budget would come from the agency. The director of the Office of Management and Budget, the office largely responsible for formulating the President’s budget, Mick Mulvaney, criticized the CFPB in documents supporting the budget for financial mismanagement.  Mulvaney…

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