Acting White House Chief ofStaff Mick Mulvaney is no longer in charge of the CFPB, though onepublication notes his policy of reducing fines while at the CFPB"came to be known as the 'Mulvaney discount'" and is apparentlystill in play.(Photo: Shutterstock)

The Trump appointee leading the Consumer Financial ProtectionBureau, Kathy Kraninger, has overseen the fine of Mark Corbettafter it was determined that he sold veterans deceptive,high-interest loans. He was fined $1.

The Center for Responsible Lending, reporting on the fine, pointed out that theCFPB said in late 2018 that lenders to militarypersonnel would no longer be monitored for compliance withthe Military Lending Act, meant to protect veterans andsoldiers from predatory lending practices.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.