Published: Thu, April 26, 2018
Finance | By Gustavo Carr

Mulvaney's Advice to Bankers: Up Campaign Donations to Diminish Consumer Watchdog

Mulvaney's Advice to Bankers: Up Campaign Donations to Diminish Consumer Watchdog

"We had a hierarchy in my office in Congress", Mick Mulvaney told a Washington conference of the American Bankers Association on Tuesday, according to the New York Times. On Tuesday, he admitted that, as a Congressman, he only met with lobbyists who gave him money - almost 90% of which come from banks and other businesses.

Mulvaney admitted Tuesday that, as a congressman, he only gave meetings to lobbyists who donated to his campaign. If you were a lobbyist who gave us money, I might talk to you. She demanded more information on the Bureau's Payday Rule, its recent data collection freeze, and approach to enforcement actions. That Mulvaney would engage in this behavior is not particularly surprising, but the fact that he so openly admits to it, in front of an industry group he is supposed to regulate, shows a striking level of disregard for even the appearance of basic propriety. Sherrod Brown (D-Ohio) said on Wednesday that Mulvaney has "made it clear that [his] congressional office was for sale" and called on him to resign immediately.

Mr. Mulvaney also said he would begin calling the Consumer Financial Protection Bureau by its official statutory name, the more obscure Bureau of Consumer Financial Protection.

More news: Sitaram Yechury re-elected as General Secretary of CPI-M

A spokesman for the OMB director (and current interim Consumer Financial Protection Bureau chief) said, "He was making the point that hearing from people back home is vital to our democratic process and the most important thing our representatives can do. Banks and payday lenders already have armies of lobbyists on their sides a they don't need one more".

The Trump administration is full of cheerful kleptocrats like Mulvaney, all of whom share a remarkable ability to bleat about swamp-draining in public while using their newfound positions of power to enrich themselves or people like them in private.

Like this: