Discussion: Trump To Nominate OMB Official To Lead Consumer Financial Protection Bureau

Bureau of Consumer Financial Exploitation

We will have unregulated loan and investment trucks on every corner.

6 Likes

EPA. Education. HUD. Interior. CFPB. OEERE.

Trump has selected people to manage departments, agencies, and specific programs in which the intended primary objectives of said agencies are the antithesis of their personal ideologies.

3 Likes

In Trump world if you do what is right you are wrong.

2 Likes

This of course has the stink of Mulvaney all over it. It took him awhile to engineer this appointment, as the programming of the OMBot was tricky. It’s difficult to code all the contradictions and hypocrisy…

1 Like

So I assume no hearings?

The best part is where Mulvaney’s wrecking crew got hefty raises. Bow down, consumers, bow down!

3 Likes

Kathy Kraninger “will bring a fresh perspective and much-needed management experience” to the Consumer Financial Protection Bureau

Yep

3 Likes

The Senate must confirm her nomination.

Elizabeth will have a question or two I’m sure. And if they can push this off until after the mid-terms it could also be amusing.

2 Likes

Mulvaney has also given big pay raises to the deputies he has hired to help him run the bureau.

Buying loyalty. It’s the Trumplandian way.

1 Like

If by “fresh perspective” you mean “intent to eliminate all forms of financial protection for consumers.”

“politicization”? I presume they mean any politics other than their own.

Ultimately, denying financial consumer protection is self-defeating. China, for example, is leveraging consumer protection in terms of protecting individual data in ways that increases its competitiveness relative to the EU and certainly the US. China also has cracked down on its shadow banking sector, which provides considerable small business and individual lending. Most interestingly, perhaps is that these two areas intersect in the payments system. China never had credit cards, and as a result has moved directly to mobile pay (pay with your phone). The thinking is that the US has plenty of victims waiting to be scammed financially, only the result is that other countries move ahead with more reliable payments systems. Comrade Mulvaney should take a bow for making us more like Russia and less like China.

To the rest, the agency loyalists, he raised their taxes.

On the other hand, china also has the whole social rating thing, which is pretty much the opposite of privacy. It’s rather that they consider intrusive surveillance to be something only the government gets to do.

1 Like

And we don’t? I believe there was a Black Mirror episode on point. Also, the 2016 US election demonstrated that social media siloing was a thing.

Our social rating system isn’t a government monopoly. Because capitalism…