WH Swampian Mick Mulvaney tells Bankers,he would only meet with lobbyists who paid


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Mick Mulvaney, the former Congressman from South Carolina and interim Director of the Consumer Financial Protection Bureau, told 1300 banking industry executives on Tuesday that they should press lawmakers hard to pursue their agenda.

Mr Mulvaney, said as a member of Congress, “He would meet only with lobbyists if they had contributed to his campaign.”   We had a hierarchy in my office in Congress, “If you’re a lobbyist who never gave us money, I didn’t talk to you. If you’re a lobbyist who gave us money, I might talk to you.” At the top of the hierarchy, Were his constituents. “If you came from back home and sat in my lobby, I talked to you without exception, regardless of the financial contributions,”

Follow the Money 

Congressman Mulvaney, received $63,000 in contributions from Pay Day Lenders.

His predecessor, Richard Cordray levied fines and brought lawsuits to crack down on usurious business practices by an industry that offers short-term, high-interest loans that critics say trap vulnerable consumers in a feedback loop of debt.

Last January, Mr. Mulvaney put the brakes on a contentious rule.   He ended a case that the bureau initiated last year against a group of payday lenders in Kansas accused of charging interest rates of nearly 1,000 percent.   He also scrapped an investigation into the marketing and lending practices of World Acceptance Corporation, a lender based in South Carolina that  donated $4500 to Mr. Mulvaney’s previous congressional campaigns through its political action committee.

 According to the Center for Responsive Politics ,payday lenders have contributed more than $13 million to members of Congress since 2010, with the majority of that money going to Republicans who have made it a priority to roll back the financial regulations put in place by President Barack Obama after the financial crisis.

The Consumer Financial Protection Bureau was created by the 2010 Dodd-Frank Law as a way to prevent banks and other financial companies from preying on vulnerable consumers.

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Published by CityFella

Big city fella, Born and Raised in the San Francisco Bay Area. Lived in New York (a part time New Yorker) for three years . I have lived in the Sacramento area since 1993. When I first moved here, I hated it. Initially found the city too conservative for my tastes. A great place to raise children however too few options for adults . The city has grown up, there is much to do here. The city suffers from low self esteem in my opinion, locals have few positive words to say about their hometown. visitors and transplants are amazed at what they find here. From, the grand old homes in Alkali Flats, and the huge trees in midtown, there are many surprises in Sacramento. Theater is alive is this area . And finally ,there is a nightlife... In.downtown midtown, for the young and not so young. My Criticism is with local government. There is a shortage of visionaries in city hall. Sacramento has long relied on the state, feds and real estate for revenue. Like many cities in America,Downtown Sacramento was the hub of activity in the area. as the population moved to the suburbs and retail followed. The city has spent millions to revive downtown. Today less than ten thousand people live downtown. No one at city hall could connect the dots. Population-Retail. Business says Sacramento is challenging and many corporations have chosen to set up operations outside the cities limits. There is vision in the burbs. Sacramento has bones, there are many good pieces here, leaders seem unable or unwilling to put those pieces together into. Rant aside, I love it here. From the trees to the rivers. But its the people here that move me. Sacramento is one of the most integrated cities in America. I find I'm welcome everywhere. The spices work in this city of nearly 500,000 and for the most part these spices blend well together. From Ukrainians to Hispanics and a sizable gay community, all the spices seem to work well here. I frequently travel and occasionally I will venture into a city with huge racial borders, where its unsafe to visit after certain hours. I haven't found it here. I cant imagine living in a community where there is one hue or one spice. I love the big trees, Temple Coffee House, the Alhambra Safeway, Zelda's Pizza, Bicyclist in Midtown, The Mother Lode Saloon, Crest Theater, and the Rivers. I could go on and I might. Sacramento is home.

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