"There's Only One Way to Stop Predatory Lending;" New Rules End Protections

Congress in 2010 created the Consumer Financial Protection Bureau to stand watch, & expand the scope of the reports that (mortgage) lenders must file. This data makes it easier to identify predatory lending and discrimination. "Perhaps the most obvious lesson from the 2008 financial crisis was the need for stricter supervision of mortgage lending, now with his new rules, Trump  would reduce federal oversight of lending. The CFPB ended special examinations of lending to members of the military, who are often targeted by high-rate lenders. The bureau also moved to shield student loan servicers from state regulation. “ “The bureau has abandoned the very consumers it is tasked by Congress with protectingInstead, you have used the bureau to serve the wishes of the most powerful financial companies in America."wrote to Mr. Mulvaney in a fiery resignation letter."The wrecking ball  rolls on!