President’s Pick to Run CFPB Spells Disaster

President’s Pick to Run CFPB Spells Disaster

By Burg Simpson
November 29, 2017
2 min read

Things keep getting worse with the Trump White House. The latest fiasco involves the Consumer Financial Protection Bureau (CFPB), where a pair of appointees showed up to work earlier this week – to do the same job. It’s an awkward situation made worse since President Trump’s appointee, Mick Mulvaney, already has a another job as director of the Office of Management and Budget.

But the stakes are much higher, according to Burg Simpson founding shareholder Michael S. Burg, who writes that Mulvaney’s interim appointment could spell the end of a federal agency critical to protecting consumers’ rights.

“With Mulvaney’s appointment, President Trump has signaled the death of the CFPB, which is devastating news for the American consumer,” Michael argues in his latest article on HuffPost.

While virtually unknown to most consumers, the CFPB grew out of the Dodd-Frank Act, legislation passed in response to the 2008 financial crisis “to ensure regular people and small businesses were protected from the overreach of the big banks, whose excesses and greed caused the loss of over $10 trillion in American wealth, devastating Main Street and families across the country.”

Michael is a regular contributor for HuffPost, where he writes about legal issues that threaten most Americans.

Michael S. Burg is one of America’s leading trial lawyers, author of the best-selling book, “Trial by Fire: One Man’s Battle to End Corporate Greed and Save Lives,” and founding shareholder of Burg Simpson Eldredge Hersh & Jardine. A legal champion for victims of corporate and individual malfeasance, negligence, overreach and abuse, Burg began his career fighting for the underdog and has gone on to successfully litigate some of the country’s most high-profile cases of the past four decades.

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