Attorneys general from Connecticut, New York, and 15 other states have sent a letter to President Trump criticizing his pick to lead the Consumer Financial Protection Bureau. They, along with congressional Democrats, are calling to keep Obama-era leadership of the consumer watchdog.
The AGs, all Democrats, say Mick Mulvaney should be disqualified from leading the agency because he mocked its role in protecting consumers. The AGs cite the partnership between CFPB and state prosecutors in halting scams against 9/11 first responders, military families and student borrowers.
Daniel Delerno, a lawyer who represents businesses, says, “The AGs who signed the letter have generally cooperated with the CFPB. They appear to be concerned that that cooperation will cease with a Trump-appointed director.”
Businesses have long criticized the CFPB for what they say is arbitrary rule making and enforcement. A federal judge temporarily allowed Mulvaney to lead the agency, but a full hearing on the suit is expected soon.
