University of North Carolina at Chapel Hill

Trump likely to pick ex-lawmaker (and restaurant franchisee) to head consumer agency

Trump likely to pick ex-lawmaker (and restaurant franchisee) to head consumer agency

President Trump is widely expected to name Mick Mulvaney, who currently serves as head of the White House Office of Management and Budget, as interim director of the Consumer Financial Protection Bureau.

If so, Trump would be picking someone with no background whatsoever in consumer protection, unless running a franchised Mexican restaurant in North Carolina is your idea of sticking up for the little guy.

“You’re going to see a lower level of protection, I don’t think there’s any doubt about that,” Mike Calhoun, president of the Center for Responsible Lending, told me.

Trump could still change his mind. Other names that have been floated as potential CFPB director...

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