CONSUMER PROTECTION/LEGAL/TRUMP PEOPLE: “The top cop for U.S. consumer finance has decided not to sue a payday loan collector and is weighing whether to drop cases against three payday lenders, said five people with direct knowledge of the matter.The move shows how Mick Mulvaney, named interim head of the Consumer Financial Protection Bureau (CFPB) by U.S. President Donald Trump, is putting his mark on an agency conceived to stamp out abusive lending. The payday loan cases are among about a dozen that Richard Cordray, the former agency chief, approved for litigation before he resigned in November. Cordray was the first to lead the agency that Congress created in 2010 after the financial crisis. The four previously unreported cases aimed to return more than $60 million to consumers, the people said. Three are part of routine CFPB work to police storefront lenders. The fourth case concerns who has a right to collect payday loans offered from tribal land.”
-Patrick Rucker, Trump official quietly drops payday loan case, mulls others,” Reuters, Mar. 23, 2018, 3:04am