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State agencies may be final frontier for consumer advocates

Joe Mont | September 17, 2018

As a new and permanent director lingers in Congressional limbo, acting director Mick Mulvaney continues to pick apart the Consumer Financial Protection Bureau and its mandate.

Mulvaney, President Trump’s stopgap nominee, is vocal in promoting his philosophy that the Bureau is over-funded, groomed as anti-business, and a harmful speed bump to GOP plans to incubate capital markets.

He also wants states to own enforcement actions as the federal government takes a more hands-off approach.

On Sept. 14, Pennsylvania Attorney General Josh Shapiro led a coalition of 21 of his peers to formally oppose Department of Education Secretary Betsy DeVos’ plan to eliminate the Gainful Employment Rule, which requires colleges to provide information about their programs’ costs, debt load, success rate, expected earnings, and other critical information so students and families can make informed choices.

“DeVos and the Trump Administration’s move to eliminate the Gainful...

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