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Change could weaken fair lending office at consumer bureau

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Mick MulvaneyNested inside the Consumer Financial Protection Bureau is an office that goes after financial office whenever they discriminate against Americans.

That office just lost its teeth.

Mick Mulvaney, who was appointed by President Trump as the agency's interim director two months ago, is moving a powerful division of the bureau, the Office of Fair Lending and Equal Opportunity, under his own direct oversight and stripping the office of its enforcement authority.

That means the office won't be able to go after lenders that charge higher interest rates to minorities than to whites or otherwise discriminate. Instead, staff will now focus on "advocacy, coordination and education," according to a memo emailed to employees Tuesday.

TVNL Coment: If it walks like a racist, talks like a racist and acts like a racist....



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