Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Bruce Mirken, Greenlining Institute Media Relations Director

Press Release

Mick Mulvaney Appointment as CFPB Director Disastrous for Consumers, Greenlining Institute Says

 Legally Questionable Appointee Will Push to Gut Consumer Protections, Spell Disaster for Communities of Color
OAKLAND, Calif. -

President Trump’s legally dubious appointment Friday of Mick Mulvaney to lead the Consumer Financial Protection Bureau, would be disastrous for U.S. consumers, The Greenlining Institute said today. Mulvaney has called the bureau “a sick, sad joke,”  and “the very worst kind of government entity.”

The appointment is expected to set up a legal battle, as outgoing CFPB director Richard Cordray had attempted to name his successor hours earlier by naming Leandra English to the position of deputy director, who would normally assume the top job should it become vacant.

“This continues President Trump’s pattern of appointing agency heads whose express intent is to destroy the office they lead,” said Greenlining Institute Economic Equity Director Teddy Kỳ-Nam Miller. “Mulvaney will be as big a gift to Wall Street grifters as Scott Pruitt has been to polluters. Leandra English is the right person to lead the CFPB. As a dedicated public servant who has spent her career making federal service delivery more efficient and effective, Ms. English has the capacity, experience, and skill set to serve as acting CFPB director until an appropriate nominee is put forward by the White House and the Senate votes to confirm him or her."

The CFPB was created by the Dodd-Frank financial reform law after it became clear that predatory, deceptive lending practices played a huge role in the subprime mortgage crisis that triggered the Great Recession. Much of the worst activity specifically targeted communities of color and low-income borrowers.

“We supported CFPB’s creation because our communities got hit worst by predatory lending, and literally no one in government was looking out for financial consumers,” said Greenlining Institute President Orson Aguilar. “CPFB’s first director, Richard Cordray, championed ordinary Americans, obtaining literally billions in relief for people who’d been gouged. This appointment makes clear that President Trump wants to leave consumers defenseless against being ripped off by shady financial firms.”

###

Greenlining is the solution to redlining. We advance economic opportunity and empowerment for people of color through advocacy, community and coalition building, research, and leadership development.

Trump's CIA Considered Kidnapping or Assassinating Assange: Report

"The Biden administration must drop its charges against Assange immediately."

Jake Johnson ·


'Carrying Water for Big Corporations': Sinema Faces Backlash for Opposing Tax Hikes

"Make no mistake, if she sides with her wealthy donors and kills popular investments to jump-start the economy, everyday families—including across Arizona—will pay the price."

Jake Johnson ·


UN Chief Warns Humanity Is 'Unacceptably Close to Nuclear Annihilation'

"Now is the time to lift the cloud of nuclear conflict for good," United Nations Secretary-General António Guterres said ahead of the International Day for the Total Elimination of Nuclear Weapons.

Jake Johnson ·


Coalition Slams UN Food Summit for Peddling 'Corporate-Led False Solutions' to Hunger

"The U.N. has finally made it clear what 'multilateralism' is all about—paying lip service to the people while skewing priorities for the interests of imperialists and monopoly capitalists."

Jake Johnson ·


'Political Malpractice': House Democrats' Bill Wouldn't Add Dental to Medicare Until 2028

"I don't want to see it drawn out to as far as the House has proposed," Sen. Bernie Sanders said during a recent press call.

Jake Johnson ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo