Trump administration negotiated with the payday loan industry before rolling back regulations

Another lie from a dishonest administration

Large banks are doing really well

The article linked to in the tweet states: “Banks have more than doubled their capital, their main financial defense against losses. Profits are surging on the back of the stronger economy, and bank stocks have risen more than the broader stock market since the election of Donald J. Trump. Wall Street’s chief executives are enjoying hefty paydays. The Trump administration has started to relax post-crisis regulation, and banks are angling for more loosening. ”

Banks have also paid billions in fines. Yet, Republicans and some Democrats have eliminated safeguards put in place after the recession.

 

Mulvaney admitted lobbyist contributions can buy access in Congress

Mulvaney said ““We had a hierarchy in my office in Congress.  If you’re a lobbyist who never gave us money, I didn’t talk to you. If you’re a lobbyist who gave us money, I might talk to you.”

This analysis goes into more detail.

Mulvaney also is considering ending public access to a database consumers use to file complaints against financial institutions.  The Trump institution clearly cares about businesses more than the public.  Sad!

Update: Even after he worked for the administration, Mulvaney met with lobbyists who contributed to his campaigns.

Republicans want to repeal safeguards against racial discrimination in auto loans

“The Senate is on the verge of getting rid of a consumer protection measure meant to stop car dealers from charging more for car loans based on race. And the vote is just the start of lawmakers’ attempts to target years of federal agencies’ decisions through the Congressional Review Act, the GOP’s new favorite deregulatory toy.”

Sad!

The Trump administration is not taking enforcement actions on businesses that deal with consumers

Under Obama las appointee, the Consumer Financial Protection Bureau (CFPB) took an average of two to four actions a month to stop companies from hurting consumers.

Under Trump (since the Obama director resigned), the CFPB has taken 0 actions.  That’s zero!  Trump is pro-business and will let them cheat consumers. Sad!