Drudge Retort: The Other Side of the News
Thursday, June 14, 2018

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.

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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.

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Of course. Trump is on the side of the little guy.

#1 | Posted by 726 at 2018-06-07 10:07 AM | Reply

"For too long, a small group in our nation's capital has reaped the rewards of government, while the people have borne the cost. Washington flourished, but the people did not share in its wealth. Politicians prospered, but the jobs left and the factories closed. The establishment protected itself, but not the citizens of our country. Their victories have not been your victories. Their triumphs have not been your triumphs, and while they celebrated in our nation's capital, there was little to celebrate for struggling families all across our land. That all changes, starting right here and right now, because this moment is your moment --- it belongs to you. It belongs to everyone gathered here today, and everyone watching, all across America. This is your day. This is your celebration, and this, the United States of America, is your country."

#2 | Posted by 726 at 2018-06-07 10:08 AM | Reply

Mission Accomplished!

Destroying American protections one agency at a time.

As per the Humpy Dumpy plan.

#3 | Posted by donnerboy at 2018-06-07 01:48 PM | Reply | Newsworthy 2

Protection my ass I am a loan officer and the new rules have hurt the consumer more than you know. We use to be able to help our borrowers a lot more than we can now and I am not talking about approving loans that shouldn't be approved.

#4 | Posted by WTFIGO at 2018-06-07 04:24 PM | Reply | Funny: 1 | Newsworthy 1

And the Democratic Party establishment is letting it happen.

#5 | Posted by morris at 2018-06-08 11:50 AM | Reply | Funny: 2

Don't know about anyone else, but in their young life, I have used the CFPB once and they were responsive (within 24 hr) and successful in resolving my issue.

My $0.02.

#6 | Posted by fresno500 at 2018-06-08 11:57 AM | Reply | Newsworthy 1


@#5 ... And the Democratic Party establishment is letting it happen. ...

Huh?

Who controls Congress?

Who is in the Oval Office?

Which party has a majority on the Supreme Court?

Please rub a couple of neurons together and substantiate your comment.

thx.

#7 | Posted by lamplighter at 2018-06-14 10:45 PM | Reply | Newsworthy 12

Repub party a bunch of Crooks and liars and racists.

You must never expect the Repub party doing anything for the middle class or the poor, they our the party of the haves and the haves more.

#8 | Posted by PunchyPossum at 2018-06-14 11:33 PM | Reply

Here's how good right-wingers are at economics:

70% of GDP is consumer spending.
Therefore, we should repeal measures that protect 70% of our GDP.
Signed,
Right Wingers.

#9 | Posted by snoofy at 2018-06-15 12:18 AM | Reply

Damn shame.

#10 | Posted by fresno500 at 2018-06-15 02:14 AM | Reply

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And the Democratic Party establishment is letting it happen.

#5 | POSTED BY MORRIS AT 2018-06-08 11:50 AM | REPLY | FLAG:

This was the thinking that led to Trump. Consider Morris' point carefully. The Dems were supposed to be the check and balance....

#11 | Posted by BruceBanner at 2018-06-15 07:06 AM | Reply | Newsworthy 1

By appointing prople who despise the very agencies he tasks them with running, Trump is not governing in good faith.

#12 | Posted by JOE at 2018-06-15 07:35 AM | Reply

Tragedy

#13 | Posted by bayviking at 2018-06-15 08:02 AM | Reply

Wells Fargo is ecstatic! This administration is in favor or corruption because they are completely corrupt. Lex Luther is President but without the intelligence.

#14 | Posted by danni at 2018-06-15 09:07 AM | Reply

"And the Democratic Party establishment is letting it happen."

OK, genius, tell us what they can do about it. Not enough people turned out to vote and many of those who did were fools who voted third party. In Detroit, 75,000 ballots didn't have a Presidential choice marked according to those who counted the votes, voter suppression has been going on now for decades. Kris Kobach's Interstate Crosscheck disenfranchised, wrongly, more votes than the margin of victory in the swing states that gave Trump the Presidency. OUr democracy is entirely corrupted and Republicans rule because of it.

#15 | Posted by danni at 2018-06-15 09:11 AM | Reply | Funny: 1 | Newsworthy 3

Here's how good right-wingers are at economics:
#9 | Posted by snoofy

The GOP elected a guy who bankrupted an oil company, then a guy who bankrupted a casino. Why would anyone imagine they're good at economics?

#16 | Posted by TFDNihilist at 2018-06-15 10:47 AM | Reply | Newsworthy 3

Protection my ass I am a loan officer and the new rules have hurt the consumer more than you know. We use to be able to help our borrowers a lot more than we can now and I am not talking about approving loans that shouldn't be approved.

#4 | Posted by WTFIGO at 2018-06-07 04:24 PM | Reply | Funny: 1

Citation needed. Please be specific - exactly what could you do before to help the "consumer" that is now prevented, and by exactly what regulation or law are you prevented from doing it?

I've spent many years working within a bureaucracy, and I have heard this "regulations prevent us" thing a lot. The majority of the time, it was not true. The regulation didn't prevent the contemplated action. It may have made it a little harder to do, or required justification, but mostly, the person parroting the line had never even read the regulation in question or couldn't even point to a regulation or law that they claimed was supposed to be the problem.

More to the point, what did the CFPB do, precisely, that made it hard for you, as a loan officer, to do something that was actually helpful to the "consumer"? I've seen the "help" pay-day loan companies give, and that isn't help, it's exploitation of desperate people. The cure is worse than the disease. So let's hear something that's actually helpful, not exploitative or more likely to result in a worse situation in the end.

#17 | Posted by StatsPlease at 2018-06-15 11:48 AM | Reply | Newsworthy 3

That's what trump campaigned on wasn't it? Helping banks screw customers easier?
That's why all those blue collar idiots voted for him wasn't it?

#18 | Posted by SpeakSoftly at 2018-06-15 03:14 PM | Reply

But Hillary was the one in bed with Wall Street I thought.

#19 | Posted by Sycophant at 2018-06-15 05:54 PM | Reply

"The GOP elected a guy who bankrupted an oil company, then a guy who bankrupted a casino. Why would anyone imagine they're good at economics?"

Great question.

You'd have to waterboard them to get answers.

#20 | Posted by snoofy at 2018-06-15 08:58 PM | Reply

How is this not bigger news??

You wanna sink Trump and the Trumpublicans?

Plaster shots of children being torn away from their parents on Main Stream Media 24/7.

America has lost its soul. This ---- is evil. Actual evil. Some of the worst ---- I've ever seen happen in my lifetime.

Wake up DNC. Time to take some of your eggs out of the Russia basket and start putting them into the, "we care about human beings", basket.

#21 | Posted by ClownShack at 2018-06-15 09:44 PM | Reply | Newsworthy 3

"Plaster shots of children being torn away from their parents on Main Stream Media 24/7."

Too brown.

#22 | Posted by snoofy at 2018-06-15 10:27 PM | Reply

#4,WTFIGO should be more specific, give an example or STFU.

#23 | Posted by bayviking at 2018-06-16 12:25 PM | Reply

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