PRP Legal Director Joanna Pearl on the role of states and cities in consumer protection

Mick Mulvaney isn’t blowing up the CFPB

By Katy O'Donnell

Mick Mulvaney wanted to get rid of the Consumer Financial Protection Bureau when he was in Congress, once calling the watchdog agency he now heads a “sick, sad” joke.

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“Some enforcement cases take months or years to put together. Worrying your new boss will shut down your case is bad for morale,” said Joanna Pearl, a former CFPB enforcement attorney who left in January. “Mulvaney's statements and actions make people justifiably worried he won't continue with matters that are in the interest of consumers."

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“States and cities have long been at the front lines of protecting their communities from predatory practices and financial fraud,” Pearl said. “With the CFPB withdrawing from this space, the role of state and local governments is more important than ever."

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Originally published April 30, 2018. Read the whole story via POLITICO