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April 11, 2018

Consumer watchdog agency has gone silent

  • The new director of the Consumer Financial Protection Bureau promised to take a much softer approach to enforcement.
  • By KEN SWEET
    AP Business Writer

    NEW YORK — In the 135 days since the Trump administration took control of the nation's consumer watchdog agency, it has not recorded a single enforcement action against banks, credit card companies, debt collectors or any finance companies whatsoever.

    That's likely no fluke: Mick Mulvaney, appointed acting director of the Consumer Financial Protection Bureau in late November, promised to shrink the bureau's mandate and take a much softer approach to enforcement, and records reviewed by The Associated Press indicate he has kept his word.


     
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