Mulvaney Tells Lobbyists to Pay Up to Diminish His CFPB

Mulvaney to bankers Campaign donations will help limit consumer bureau's power

Mick Mulvaney probably wasn't the only member of Congress to sell access to lobbyists during his time in Washington, but he just might be the only one to come right out and admit it. Mulvaney accepted almost $63,000 in campaign donations from payday lenders during his time in Congress, but Mulvaney claims those donations do not pose a conflict of interest.

Now the acting interim director of the Consumer Financial Protection Bureau and director of the Office of Management and Budget, Mulvaney used to be a Republican congressman from SC.

President Donald Trump's budget director and CFPB head Mick Mulvaney, who thought the government shutdown was "kind of cool," was addressing the audience at the American Bankers Association conference in Washington, D.C., when he pretty much admitted the high level of corruption in Congress. "If you're a lobbyist who never gave us money, I didn't talk to you". If you were a lobbyist who gave us money, I might talk to you.

Under Mulvaney, the bureau has proposed revisiting the regulations and policies the Obama administration put in place, and has also reduced the number of enforcement actions it has taken.

He also said that he would meet with people from his home district, regardless of whether or not they gave money, which a staffer said was Mulvaney's fundamental point. "I would have the Federal Bureau of Investigation look at his decision-making right up to the present, correlate it with lobbyist campaign contributions, and then go talk to him". This was in reaction to comments made by Mulvaney at a recent industry event, where he alluded to meeting with lobbyists if they contributed to his campaign.

Referring back to Mulvaney's remarks to lenders that they should press lawmakers hard to pursue their agenda, Brown said that banks and lenders didn't need any more lobbyists.

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