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Mulvaney, Watchdog Agency's Leader, Advises Bankers on Ways to Curtail It



But he wants to get back to the Bureau's actions. On Tuesday, he made the speech.

He concluded the speech, which included an appeal to diminish the bureau's power, by describing the two types of people he most responsive to as a congressman – constituents and lobbyists who contributed to his campaign.

Mr. Mulvaney said that trying to sway legislators was one of the "fundamental underpinnings of our representative democracy.

The Association, which invited Mr. Mulvaney to give the keynote address at his conference, strongly backs his efforts to consider the financial burdens on the banks by the bureau's actions.

Asked about the comments, John Czwartacki, a spokesman for Mr. Mulvaney, said: "Hey what making the point that hearing from people back home is vital to our democratic process and that most important thing our representatives can do. It's more important than lobbyists and it's more important than money. "

In his remarks, Mr. Mulvaney thus announced a series of moves intended to reduce the bureau's power. The agency was championed by Senator Elizabeth Warren, Democrat of Massachusetts, and Richard Cordray, who served as the bureau's director from its inception until last year.

Searches include cutting public access to the bureau's database of consumer complaints

"Yelp for financial services is sponsored by the federal government," he said.

Mr. Mulvaney also said he would start calling the Consumer Financial Protection Bureau by his / her / its / her / its / her / its official statutory name, the more obscure Bureau of Consumer Financial Protection. Administration officials said the rebuiling was an attempt to diminish the agency's public profile.

Mr. Mulvaney's political appointees at the agency have The Associated Press, which sets the standard for many publications and broadcasters to change how it refers to the bureau.

BCFP 'It's really, really hard to do that when you said the CFPB for so long, "Mr. Mulvaney told the bankers.

The consumer bureau was created by Dodd-Frank Law as a way to prevent bankruptcy. But the bureau has become a target of Republican lawmakers, who complains that it has unchecked power and is too aggressive in trying to punish financial firms.

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