California Attorney General Xavier Becerra issued the following statement today on the news that legally challenged Acting Director Mick Mulvaney of the federal Consumer Financial Protection Bureau has decided to request a total of $0 for the second-quarter budget of the agency he professes to run:
“Mick Mulvaney, whose position as Acting Director of CFPB is under a legal cloud, had previously described the CFPB as a ‘sick, sad joke.’ After disclosing his maneuver to defund the watchdog agency that defends consumers against financial abuse, at least we know now who the real target of his joke is.
“Financial fraud and abuse is no joke. In 2008, millions of Americans lost their jobs and their homes because of the big banks’ meltdown as we sank into the Great Recession. Wall Street got its bailout while Americans suffered. Why should Americans be the butt of another joke — this time the Mulvaney rip-off of consumer oversight of the very same big banks? In California, we’ll defend our consumers against financial fraud and abuse, even if Trump officials go AWOL.”
Under the leadership of former Director Richard Cordray, the CFPB set new standards for protecting mortgage and student borrowers and brought landmark actions against big banks. Director Cordray led CFPB’s reform of payday lending practices, bank overdraft fee practices, and for-profit college billing practices. The California Department of Justice worked in partnership with CFPB with great success.
Under Attorney General Becerra, California has challenged in court large banks, retailers with abusive credit practices, and predatory for-profit colleges.
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Acting Director Mick Mulvaney of the Consumer Financial Protection Bureau 
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8 Comments
Great! The joke is on Obama and the high debt democrats! He a smart conservative and he’s saving waste! ????????
Scvnews please stop parroting garbage from the CA AG. It’s painfully obvious that he’s nothing more than a rank partisan and it’s beneath you as a news organization to simply serve as his mouthpiece.
Santa Clarita residents treat SCVTV as the partisan fake news source it is.
Santa Clarita residents treat SCVTV as the partisan fake news source it is.
Becerra is an embarrassment along with Scvtv.
At least so far SCVtv is not shutting down comments like the SIGNAL. What a loss that was. The residents of SCV used to be able to use the comments section of SIGNAL to work together to effect change like blocking the huge digital bill boards the city council tried to shove down our throats. Also we took up the “Bella the cat murder” at the local shelter and were able coordinate together through the comments section of the SIGNAL to get local office holders to change the way shelters coordinate with rescue groups and save untold numbers of animals.
Why not send us some of the press releases from the White House?
Xavier belongs in jail, like the rest of,jerry’s kids…stealing billions from all hard working Californian’s…can you say high speed rail? How about water rights? Even when the courts you control find against you…Jerry has the right to let the pay off’s and theft continue for another 20 years???