CFPB's Mulvaney Urges States to Play Bigger Role in Enforcement Cases

Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney on Wednesday called on states to make more of an effort to lead enforcement actions against financial companies and promised that the agency would uphold its mission under the Trump administration, reports Politico Pro . Mulvaney pledged the CFPB will continue to enforce the law, despite concerns from Democrats and consumer advocates that he would disband the bureau. "The CFPB will be run differently under the Trump administration than it was under the Obama administration," he said. Mulvaney also noted there would be emphasis on education — including trying to convince people not to accept services that are inadvisable for their financial benefit — and a plan to discontinue the CFPB's research into the economic impact of climate change. "In a perfect world ... if you did your education absolutely perfectly, you wouldn't have to do any enforcement at all," Mulvaney said. But he also swore, "we intend to do both."