Politics, Moderate



How Mick Mulvaney is dismantling a federal agency

Catherine Rampell on

"We don't just work for the government, we work for the people. And that means everyone: those who use credit cards, and those who provide those cards; those who take loans, and those who make them; those who buy cars, and those who sell them," he wrote in the memo.

You know what? That's bogus.

The CFPB was designed to defend defenseless consumers, not business interests. "Consumer" is literally in its name. There are plenty of entities, both within and outside the government, that seek to balance interests of public and industry participants. The CFPB is not among them.

But forget that. It's not clear why looking the other way when companies cheat customers is good for the business community, either.

All this does it disadvantage companies that play by the rules. If your business model is to be more deceptive than your competitors, maybe the economy doesn't need you at all.

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Catherine Rampell's email address is crampell@washpost.com. Follow her on Twitter, @crampell.

(c) 2017, Washington Post Writers Group



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