Tag: big banks

Trump official gave big banks a ‘discount’ for screwing people over

Credit: Alex Wong, Getty Images

Mick Mulvaney used his tenure at the CFPB to do the bidding of corporations, not help consumers.

The Senate approved Kathy Kraninger as the new head for the Consumer Finance Protection Bureau (CFPB), but not before previous chief Mick Mulvaney could make a mockery of the agency.

Mulvaney took over the consumer protection agency in November 2017, even though he hated the agency and once said, “I don’t like the fact that CFPB exists.”

When the Washington Post delved into Mulvaney’s tenure at the CFPB, it found a disturbing pattern of Mulvaney using his position to go soft on companies that were harming consumers.

View the complete December 7 article by Dan Desai Martin on the ShareBlue.com website here.

Banks rack up big wins in Trump’s Washington

The following article by Sylvan Lane was posted on the Hill website January 11, 2018:

© Hill Photo illustration/Garrett Evans

Banks are ascendant in Washington, scoring major wins and enjoying the support of a friendly White House a decade after the financial crisis.

The banks are reeling in record profits, thanks to the growing economy and the booming stock market, the just-passed Republican tax-overhaul bill has slashed their tax rate and to top it all off, a bipartisan Senate coalition is fighting to loosen the post-crisis rules meant to curb risky behavior in the financial industry.

Critics of the banking sector say the shift is the result of Wall Street seizing control of the government; they compare President Trump’s appointments to a Wall Street occupation of the federal government. Continue reading “Banks rack up big wins in Trump’s Washington”