CONSUMER PROTECTION/TRUMP PEOPLE: “The head of the U.S. Consumer Financial Protection Bureau asked Congress on Monday [4-2-18] to trim the agency’s power to write rules and spend money. Mick Mulvaney, the head of the CFPB, said the agency has the kind of power that should only rest with Congress. President Donald Trump tapped Mulvaney to lead the CFPB in late November. While Mulvaney is supposed to lead the agency on an interim basis, there is no deadline for when he must step aside for a permanent director. Mulvaney recommended four ways to curtail the CFPB’s power. The CFPB should get its funding through Congress rather than the Federal Reserve, according to the proposal. Congress should have veto power over CFPB rules and the agency should more directly answer to the president.”
–Patrick Rucker, “Trump’s consumer watchdog proposes to trim agency’s power,” Reuters, April 2, 2018 12:01pm