Trump’s CFPB won’t be Obama’s: Key ways it could be different

Fox Business cited Iain Murray on the need for focus by the CFPB on upholding existing laws rather than imposing new ones. 

As the battle wages on over who is the rightful acting director of the Consumer Financial Protection Bureau (CFPB), deputy director Leandra English or Office of Management and Budget director Mick Mulvaney, one thing is certain: President Donald Trump’s CFPB will differ from President Barack Obama’s.

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Trump’s administration, including Mulvaney, join a host of Republicans who have been highly critical of the CFPB in both its structural organization and implementation of rules. During a press conference on Monday, Mulvaney said if he had the option to eliminate the CFPB and assign its duties to other agencies, he would.

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“The CFPB should focus on enforcing existing consumer protection laws rather than finding creative ways to impose new ones in defiance of Congress,” Iain Murray, vice president for strategy at the Competitive Enterprise Institute, told FOX Business.

Read the full article at Fox Business.