{"id":1003131,"date":"2018-12-12T15:17:16","date_gmt":"2018-12-12T19:17:16","guid":{"rendered":"https:\/\/democrats.org\/?p=1003131"},"modified":"2024-05-23T20:12:17","modified_gmt":"2024-05-23T20:12:17","slug":"kraninger-plans-to-echo-mulvaney-as-cfpb-head","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/kraninger-plans-to-echo-mulvaney-as-cfpb-head\/","title":{"rendered":"Kraninger Plans To Echo Mulvaney As CFPB Head"},"content":{"rendered":"<p dir=\"ltr\">Trump\u2019s new Consumer Financial Protection Bureau chief, Kathy Kraninger, said yesterday that she plans to run the agency like Mick Mulvaney did. That\u2019s good news for bad actors and special interests, but bad news for consumers.<\/p>\n<p>&nbsp;<\/p>\n<p dir=\"ltr\">Kraninger plans to follow Mulvaney\u2019s lead in how she runs the CFPB.<\/p>\n<p>&nbsp;<\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/in.reuters.com\/article\/usa-cfpb-kraninger\/new-us-consumer-watchdog-chief-echoes-mulvaney-as-she-lays-out-her-plans-idINL1N1YG21R\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/in.reuters.com\/article\/usa-cfpb-kraninger\/new-us-consumer-watchdog-chief-echoes-mulvaney-as-she-lays-out-her-plans-idINL1N1YG21R&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNFxkGRh2h4hYQBR-03SugVtFMQbWQ\">Reuters<\/a>: \u201cNew U.S. consumer watchdog chief echoes Mulvaney as she lays out her plans\u201d<\/p>\n<p>&nbsp;<\/p>\n<p dir=\"ltr\">Here\u2019s a look at some of Mulvaney\u2019s many disastrous policies at the CFPB:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney\u2019s CFPB tried to <a href=\"https:\/\/www.politico.com\/story\/2018\/12\/10\/student-loan-fees-wells-fargo-1021129\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.politico.com\/story\/2018\/12\/10\/student-loan-fees-wells-fargo-1021129&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNHdsko6ykHjY9xzOQcJAyUHecWPQQ\">bury a report<\/a> showing that Wells Fargo has been saddling college students with excessive fees.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney\u2019s CFPB made it harder for the the Military Lending Act to protect service members and their families from <a href=\"https:\/\/www.npr.org\/2018\/08\/13\/637992389\/white-house-takes-aim-at-financial-protections-for-military\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.npr.org\/2018\/08\/13\/637992389\/white-house-takes-aim-at-financial-protections-for-military&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNEAKne6wzedqrnJ_xuWYGvTeDPhmA\">deceitful lending practices<\/a>.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney <a href=\"http:\/\/money.cnn.com\/2018\/04\/24\/news\/economy\/mulvaney-cfpb-database-complaints\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=http:\/\/money.cnn.com\/2018\/04\/24\/news\/economy\/mulvaney-cfpb-database-complaints\/index.html&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNErF0CRkST4DbuQkEyG0Sx6U-F9Pg\">tried to hide the contents<\/a> of a public database of complaints about banks, mortgage lenders and student-loan service providers.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">In his first report to Congress, Mulvaney called on lawmakers to <a href=\"https:\/\/www.nytimes.com\/2018\/04\/02\/us\/politics\/cfpb-mick-mulvaney.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.nytimes.com\/2018\/04\/02\/us\/politics\/cfpb-mick-mulvaney.html&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNEuU2GCxZ0GneUu_s_B96aFNVVVDg\">gut the CFPB\u2019s enforcement authority <\/a>and limit its independence.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney <a href=\"https:\/\/www.washingtonpost.com\/news\/business\/wp\/2018\/02\/01\/trump-administration-strips-consumer-watchdog-office-of-enforcement-powers-against-financial-firms-in-lending-discrimination-cases\/?utm_term=.6c6e752d96b8\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.washingtonpost.com\/news\/business\/wp\/2018\/02\/01\/trump-administration-strips-consumer-watchdog-office-of-enforcement-powers-against-financial-firms-in-lending-discrimination-cases\/?utm_term%3D.6c6e752d96b8&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNE3SDaOxp5kuT_sQ0jroQzRJbm5yw\">stripped enforcement and oversight powers<\/a> from the CFPB\u2019s Office of Fair Lending and Equal Opportunity.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney\u2019s CFPB <a href=\"http:\/\/thehill.com\/policy\/finance\/370769-consumer-bureau-delays-prepaid-card-rule-until-april-2019\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=http:\/\/thehill.com\/policy\/finance\/370769-consumer-bureau-delays-prepaid-card-rule-until-april-2019&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNHw_fxJ1hrRarxU6AZxcPEaG1Ir6w\">delayed debt protections<\/a> for users of prepaid cards and accounts.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney\u2019s CFPB asked the very companies it is supposed to regulate for their <a href=\"https:\/\/www.law360.com\/articles\/1005269\/mulvaney-wants-biz-input-on-cfpb-investigative-demands\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.law360.com\/articles\/1005269\/mulvaney-wants-biz-input-on-cfpb-investigative-demands&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNHnrFIy37-0Fdb2o7h8FOE-imdnZQ\">complaints regarding the agency\u2019s investigations <\/a>of suspected wrongdoing.<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Mulvaney\u2019s CFPB <a href=\"https:\/\/www.washingtonpost.com\/news\/business\/wp\/2018\/01\/16\/cfpb-changes-direction-will-reconsider-rule-that-sets-stricter-limits-on-payday-lending\/?utm_term=.d90ddbedde85\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.washingtonpost.com\/news\/business\/wp\/2018\/01\/16\/cfpb-changes-direction-will-reconsider-rule-that-sets-stricter-limits-on-payday-lending\/?utm_term%3D.d90ddbedde85&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNE1Pn086ck8p3mFh40K7-wF6Mnnrw\">suspended regulations<\/a> to rein in predatory payday lenders and quietly dropped efforts to hold them accountable<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">In his first opportunity to request agency operating funds as interim CFPB director, Mulvaney <a href=\"https:\/\/www.politico.com\/story\/2018\/01\/18\/mulvaney-funding-consumer-bureau-cordray-345495\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.politico.com\/story\/2018\/01\/18\/mulvaney-funding-consumer-bureau-cordray-345495&amp;source=gmail&amp;ust=1545421777905000&amp;usg=AFQjCNFAqhjE2ipT8ezm4Bhuz-_cqU-mpg\">requested no funding<\/a>.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Trump\u2019s new Consumer Financial Protection Bureau chief, Kathy Kraninger, said yesterday that she plans to run the agency like Mick Mulvaney did. That\u2019s good news for bad actors and special interests, but bad news for consumers. &nbsp; Kraninger plans to follow Mulvaney\u2019s lead in how she runs the CFPB. &nbsp; Reuters: \u201cNew U.S. consumer watchdog [&hellip;]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1003131","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kraninger Plans To Echo Mulvaney As CFPB Head - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/kraninger-plans-to-echo-mulvaney-as-cfpb-head\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-12T19:17:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-23T20:12:17+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/kraninger-plans-to-echo-mulvaney-as-cfpb-head\/\",\"url\":\"https:\/\/democrats.org\/news\/kraninger-plans-to-echo-mulvaney-as-cfpb-head\/\",\"name\":\"Kraninger Plans To Echo Mulvaney As CFPB Head - 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