Statement on Mick Mulvaney’s Comments on the CFPB

January 24, 2017

Mick Mulvaney, nominee to lead the White House Office of Management and Budget, is a budget extremist who has demonstrated a callous willingness to harm the lives of millions of Americans, cut Social Security, and cause irreparable damage to the economy in order to support his radical agenda.

It should come then as no surprise that Mr. Mulvaney spoke out against the Consumer Financial Protection Bureau in his hearing today. The CFPB fights on behalf of the American people against the abuses of big banks and debt collectors. Yet Mr. Mulvaney thinks it is a “sick, sad joke.” While the CFPB was fighting vigorously on behalf of consumers, returning billions of dollars to American families, Mr. Mulvaney was delivering speeches to lobbyists for predatory lenders and expressing his unwavering support for the collections industry. Siding with debt collectors against struggling American families is sick and sad.

The CFPB’s enforcement actions have demonstrated that the malicious practices of these companies did not stop even after they dragged the world into a catastrophic financial crisis. As a congressman, Mr. Mulvaney eagerly sold out his constituents to predatory banks and lenders. The Trump administration intends to do the same. He will be a perfect fit.

If they get their way, it’s the American people who will be left holding the bill.

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