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  • President Trump signs Dodd-Frank rollback into law

    President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

Items Tagged with 'CFPB budget'

ARTICLES

  • Mulvaney asks Congress to dramatically reduce CFPB’s independence

    Wants agency funded through Congress, new rules approved by Congress
    Mick Mulvaney continued his push to substantially alter the operations of a federal agency that he once called a “sick, sad joke” by asking Congress on Monday to significantly increase its oversight of the Consumer Financial Protection Bureau. In his first report to Congress as CFPB acting director, Mulvaney asked Congress to enact four major reforms that would considerably cut the CFPB’s independence.
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  • CFPB funding slashed, enforcement authority reined in by Trump budget

    More changes afoot for agency already in the crosshairs?
    On Monday, the White House released its 2019 budget proposal, and for the second time, took dead aim at the CFPB. While the 2018 version proposed cutting the CFPB’s funding and bringing the agency’s funding under the congressional appropriations process to increase oversight, the 2019 version also calls for those measures but also goes much further to reshape the CFPB’s mission altogether.
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  • Republican lawmakers move to slash CFPB employees' pay

    Sen. Mike Enzi, Rep. Sean Duffy introduce bill to cut CFPB compensation
    One of Mick Mulvaney’s first actions after he took over as acting director of the Consumer Financial Protection Bureau was to institute a hiring freeze, stipulating that the bureau could not hire any new employees for at least 30 days. But if two of Mulvaney’s former Congressional colleagues have their way, the CFPB’s current employees could be left feeling a freeze of their own – vastly reduced salaries.
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  • Trump budget surprise: Gutting the CFPB

    Budget proposal shifts appropriations to Congress, then slashes funding
    The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.
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