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Banks Remain Quiet on Mulvaney CFPB Appointment

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The New York Post discusses Mick Mulvaney's appointment to the Consumer Financial Protection Bureau with Iain Murray.

While Washington was buzzing on Monday over the battle for immediate control of a key consumer financial watchdog, New York’s major banks were strangely quiet.

Representatives for several banks — as well as the American Bankers Association, an industry group — declined to comment on the White House’s effort to name Mick Mulvaney the acting director of the Consumer Financial Protection Bureau.

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Mulvaney is expected to curb the CFPB watchdog and make its enforcement of banking regulations less aggressive. In the past, he has been critical of the agency.

But several banks, the ABA and the Independent Community Bankers of America were quiet when asked for their take on the tug-of-war.

“I always say, put not thy faith in judges,” Iain Murray, a vice president at the Competitive Enterprise Institute, told The Post, when asked about the hubbub over the Washington legal face-off.

Read the full article at The New York Post.