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    Trump Administration To Defang Consumer Protection Watchdog

    The new head of the Consumer Financial Protection Bureau is making the agency less aggressive in its mission. An internal memo obtained by NPR says the CFPB will unveil a strategic plan to that end.
    by Chris Arnold Feb 12, 2018 5 minutes

    The Consumer Financial Protection Bureau was created after the financial crisis to protect Americans from being ripped off by financial firms.

    Now, President Trump's interim appointee to run the bureau Mick Mulvaney is making radical changes to deter the agency from aggressively pursuing its mission.

    An internal memo obtained by NPR says the CFPB will on Monday unveil a new strategic plan to that end. A "revised mission and vision of the bureau" for the years 2018 through 2022 will call upon the agency to "fulfill its statutory responsibilities but go no further." It also says the bureau should be "acting with humility and moderation."

    This new direction is consistent with Mulvaney's other memos and statements and formalizes his plans for defanging the watchdog bureau and

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