The Latest: Waters vows to undo work of Mulvaney at CFPB

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The Latest: Waters vows to undo work of Mulvaney at CFPB

WASHINGTON (AP) — The Latest on the looks of the brand new chief of the Consumer Financial Protection Bureau earlier than the House Financial Services Committee (all instances native):

1:50 p.m.

Rep. Maxine Waters of California says she’s dedicated to reversing what she calls “the damage” performed by Mick Mulvaney, who headed a shopper watchdog company created within the wake of the monetary disaster of 2008-2009.

Mulvaney’s alternative testified Thursday earlier than the House Financial Services Committee, which is now beneath the management of the Democrats.

They opposed the appointment of Kathy Kraninger as a result of she has no related expertise to steer the Consumer Financial Protection Bureau.

Kraninger instructed the lawmakers that she’s pushing broader efforts on the CFPB to stop hurt to customers. She insisted, beneath a bathe of criticisms and questions from Democrats, that she will not be beneath the political affect of Trump or Mulvaney.

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1:40 p.m.

The authorities’s shopper watchdog company is coming beneath new scrutiny from the House Financial Services Committee, now beneath the management of Democrats who say appointees of President Donald Trump to steer the group have undermined its mission to guard Americans.

A contemporary rebuke got here Thursday from Rep. Maxine Waters, D-Calif., the chair of the committee, with the brand new head of the Consumer Financial Protection Bureau offering testimony.

In December Kathy Kraninger succeeded Mick Mulvaney, now Trump’s appearing chief of employees. Mulvaney employed Republican political operatives to supervise almost all the company’s operations.

Democrats opposed Kraninger’s appointment within the fall, saying she had little related expertise.

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