The Consumer Financial Protection Bureau (CFPB), under the direction of President Trump’s appointee Mike Mulvaney, is withdrawing from its role of protecting consumers from predatory lending practices. The CFPB was created to correct the abusive practices of banks, payday lenders, student loan servicers, and other financial institutions, but under the Trump administration, the bureau has made a dramatic shift in its policies. The burden now shifts to consumer lawyers and private litigants to step into …
