Waters & other Democrats draft bill to reverse Mulvaney’s CFPB moves
Rep. Maxine Waters and Democrats on her committee are scheduled to hold a news conference about the bill on Wednesday.
As House Financial Services Chairwoman Maxine Waters (D-Calif.) prepares to go head-to-head with CFPB Director Kathy Kraninger, the lawmaker is circulating draft legislation that would reverse decisions made by former Acting Director Mick Mulvaney.
Waters and Democrats on her committee are scheduled to hold a news conference about the bill Wednesday morning.
The hearing and the legislation are certain to provoke a clash between Waters and Kraninger during a committee hearing on Thursday. Kraninger said during her confirmation hearing that she agreed with Mulvaney’s decisions at the agency.
In a memo in preparation for Thursday’s hearing, Democratic staff said there has been a significant drop in enforcement actions at the agency since former Director Richard Cordray, an Obama Administration nominee, left.
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