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Mulvaney Urges Congress To Strip Agency’s Powers - The Hill

The acting director of the Consumer Financial Protection Bureau (CFPB) asked a House committee Wednesday to rein in the agency’s power to police the financial sector.  Mick Mulvaney, who is also the White House budget director, urged the House Financial Services Committee to impose several new restrictions on the bureau. He said lawmakers need to take control of the agency’s funding, make his successors fire-able at will by the president and install an inspector general, among other things.  "It's not accountable to you. It's not accountable to the public. It's not accountable to anybody but itself," Mulvaney said of the CFPB, telling lawmakers to “take back authority as the legislature of the country.”  Republicans showered praise on Mulvaney’s efforts to pull back the CFPB, an agency they’ve long accused of violating the law and abusing its powers to wage a crusade against financial institutions.

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