The last quarter when Richard Quarter was director of the Consumer Financial Protection Bureau (CFPB), left-of-center Politico reports that, “former director Richard Cordray asked for $217.1 million. Cordray, an appointee of President Barack Obama, needed just $86.6 million the quarter before that.”
According to more centrist Reuters, what did Trump’s interim CFPB director ask for his quarterly funding from the U.S. Treasury?
Zero.
Nadda.
Send no more money.
“The move by Mulvaney, a vocal agency critic who is also is Trump’s budget chief, has spurred concerns among consumer advocates,” per Reuters.
Could it signal an intent by the Trump Administration to gut the agency, by defunding it?
If so, would that leave onerous regulations manufactured housing regulations – such as points/fees thresholds, and the MLO rule – unenforced, and de facto ended?
“Mulvaney said he plans to spend down a $177 million reserve fund,” as part of his contribution to the deficit.
What will happen beyond that is uncertain.
But the Trump Administration – through vocal CFPB critic Mulvaney – could be signaling the next round of D.C.’s anti-swamp warfare. As Mulvaney said after his first day as acting director: “Elections have consequences at every agency.”
The Daily Business News will continue to monitor these developments for the industry.
MHProNews is herby calling upon the Manufactured Housing Institute (MHI) to reveal all of their messages and/or meeting minutes since Mulvaney has taken over at the CFPB.
The Masthead
The Manufactured Housing Institute has finally provided a series of written responses to concerns raised by a number of industry members. MHI did so to via an email to their members, as they ask them to renew their annual membership dues. Let’s make this hyper-simple.
Doesn’t MHI needs to be transparent about if they are truly trying to achieve their claimed changes to Dodd-Frank, or not? “We Provide, You Decide.”
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