CFPB Chief Mulvaney Says Days of ‘Pushing the Envelope’ Are Over

From: Bloomberg

By Robert Schmidt

  • Agency won’t assume firms are ‘bad guys,’ he writes in WSJ
  • Acting chief lays out his vision for controversial regulator

The acting head of the U.S. Consumer Financial Protection Bureau pledged to tone down the agency’s aggressive regulatory and enforcement stance, a posture that has been decried by many of the companies it oversees.

Writing an op-ed in the Wall Street Journal, Mick Mulvaney said he would continue to make sure the bureau enforces consumer protection laws. But, he added, it will not assume that “the bad guys” are the financial services firms it supervises — a belief he attributed to the Democrats who had run the CFPB since it was created in 2010.

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