As a federal court prepares to determine whether his appointment is legal, Acting CFPB Director Mick Mulvaney Thursday announced that the agency will not assess penalties for Mortgage Disclosure Act data collected in 2018 and reported in 2019 and will change its rule governing prepaid accounts.
The announcements came as Mulvaney begins leaving a Trump Administration imprint on the agency, from changing its mission statement to changing the name of a scholar’s program.
The moves are further signs that Mulvaney, an outspoken critic of the agency, intends to roll back the aggressive rulemaking the agency pushed under the regime of former Director Richard Cordray.
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