Mick Mulvaney | Auto Finance News | Auto Finance News

Consumer Advocates Call on Regulators to Clamp Down on Discriminatory Auto Lending

Consumer advocates proposed prohibiting dealer markups and increasing federal oversight to combat alleged discriminatory indirect lending practices, in a U.S. House Committee on Financial Services hearing Wednesday. “Many of the disparities we will discuss here today are only possible because the market for cars — especially car finance for used cars — is opaque and […]

Former CFPB Director Joins Committee to Discuss Regulatory Oversight in California

Former Consumer Financial Protection Bureau Director Richard Cordray joined the California State Assembly Committee on Banking and Finance Wednesday to discuss Trump administration rollbacks of consumer protections. Cordray was joined by Kat Taylor, Beneficial State Bank co-founder and chief executive, along with representatives from three consumer groups. The goal of the hearing, according to a […]

Kraninger Scraps CFPB Name Change

The Consumer Financial Protection Bureau is keeping its name after Director Kathy Kraninger determined a change would be too costly for lenders, she wrote in an email to the bureau staff this week. In her first official move as the CFPB’s new director, Kraninger has halted her predecessor’s efforts to change the agency’s name to […]

Mulvaney to Steer CFPB Regulation Away From Dealers

The Consumer Financial Protection Bureau will no longer instruct auto lenders on how to govern dealership practices, Acting Director Mick Mulvaney said during a speech Tuesday at the  American Bankers Association conference. The comments were in line with previous statements Mulvaney made in regards to “not pushing the envelope,” but in this speech he took […]

Mulvaney Boosts Pay for CFPB Deputies While Limiting Budget

At least four deputies hired to help run the Consumer Financial Protection Bureau are being paid more than Congress Members or cabinet secretaries all while Acting Director Mick Mulvaney cuts the bureau’s budget and proposes changes to its funding structure, according to a report from the Associated Press.    Of the eight deputies Mulvaney has […]