Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau, testified today before the House Financial Services Committee. Rather than highlight the prepared remarks, the following are statements, questions and responses from many of the Committee members and the Acting Director, which I think provide a detailed picture of the hearing, and Mulvaney's approach to his job.
In his opening statement Chairman Rep. Jeb Hensarling remarked that former Director Richard Cordray acted unlawfully while Acting Director Mick Mulvaney is acting lawfully, and expressed appreciation that he is requesting assistance from Congress to reform the CFPB.
Numerous Democrats, including ranking Democrat Rep. Maxine Waters went on record to say that their presence at the hearing should not be taken as an acceptance of Mulvaney as the lawful Acting Director, but rather a response to the need to engage in an oversight capacity.
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