Remember how hard Elizabeth Warren fought to keep control of the Consumer Financial Protection Bureau? Now we know why. It was handing out cash to Democrats. The new acting director is Mick Mulvaney, a Trump appointee and he’s shutting down the gravy train.
The Washington Examiner reports:
Trump budget chief shuts down consumer ‘protection’ bureau ‘slush fund’
An educational “slush fund” used by the Consumer Financial Protection Bureau has come under the “strictest review” by acting director Mick Mulvaney amid concerns the Obama-era agency has been doling out cash only to Democratic cronies.
Mulvaney, President Trump’s budget chief who has been temporarily installed at the agency the president once promised to kill, is reviewing all spending by the troubled consumer watchdog created to protect Americans from big financial companies.
“All of this is under strictest review. While we get our arms around it, the director is personally approving any payment out of these funds to ensure that they are going to actual victims,” an official said. Mulvaney replaced former President Barack Obama’s director, Richard Cordray, who resigned in November.
CFPB, the brainchild of Democratic Massachusetts Sen. Elizabeth Warren, collects fines from financial institutions and spends it on victims and educating the public on its mission. Millions of dollars have been set aside for the education funding.
This is part of the reason Democrats are still freaking out about losing the 2016 election. All their little schemes are falling apart.