Under Trump Appointee, Consumer Protection Agency Viewed Assisting Payday Lenders

Under Trump Appointee, Consumer Protection Agency Viewed Assisting Payday Lenders

Mick Mulvaney, A republican that is former lawmaker present White House budget chief, had been additionally chosen as interim mind associated with the customer Financial Protection Bureau. Astrid Riecken/Getty Photos hide caption

Mick Mulvaney, a previous republican lawmaker and current White House budget chief, has also been chosen as interim head for the Consumer Financial Protection Bureau.

Astrid Riecken/Getty Images

Payday loan providers may actually have effective buddy in Washington.

Former Republican Rep. Mick Mulvaney could be the interim mind for the customer Financial Protection Bureau. He had been appointed by President Trump amid a continuous power fight for control over the bureau.

Watchdog groups are up in hands because, under Mulvaney, the CFPB has put in hold a rule that will limit payday lenders and their high-interest-rate loans. (more…)