The Consumer Financial Protection Bureau continues to come under fire by the man running the watchdog agency — Mick Mulvaney, the interim director appointed by President Trump.
In his latest action, Mulvaney moved on Wednesday to effectively dismantle the agency’s consumer advisory council. “It’s quite clear that we’ve been fired,” said Kathleen Engel, a law professor at Suffolk University and a member of the CFPB’s Consumer Advisory Board.
The board is designed to help consumer groups work with the CFPB to identify problems facing Americans who are treated unfairly by financial firms.
Previously, when he was in Congress, Mulvaney sponsored legislation to abolish the bureau. In April, he said he wanted to shut down public access to a popular government database at the CFPB. In February, he indicated he wanted to scale back the CFPB’s role as a watchdog. And under Mulvaney, the CFPB delayed a new payday lending regulation and dropped an investigation into one payday lender that contributed to his campaign.