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Mulvaney Further Scales Back CFPB Role As An Aggressive Watchdog

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Copyright 2018 NPR. To see more, visit STEVE INSKEEP, HOST: President Trump's chosen leader of the Consumer Financial Protection Bureau has dismayed advocates of consumers. Mick Mulvaney leads the agency set up to protect people from predatory practices by financial companies. By law, the bureau has to meet twice a year with an advisory board made up of consumer advocates and lawyers and experts. And now Mulvaney is dismantling that board. NPR's Chris Arnold has more. CHRIS ARNOLD, BYLINE: As a congressman, Mulvaney sponsored legislation to destroy the bureau. Now he's running it and scaling back its role as an aggressive watchdog. Consumer advocates say they've worked with the bureau on important issues - unfair student loan practices, predatory lenders going after senior citizens. But since Mulvaney arrived late last year, that dialogue, they say, has been cut off. Mulvaney has canceled those required meetings. And then this week, board members were told to get on a conference call.

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