Since its creation in 2011, the Consumer Financial Protection Bureau (CFPB) has returned nearly $ 12.5 billion to more than 31 million U.S. consumers. When former South Carolina Congressman Mick Mulvaney became acting head of the agency in November 2017, he said that the CFPB would no longer be taking enforcement actions.
He wasn’t kidding. The CFPB initiated just 10 enforcement actions in 2018 compared to 55 in 2015, 42 in 2016 and 35 in 2017. Among the agency’s primary targets were financial institutions.
Between January 1 and December 19 of …
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