NEW YORK ― Big business and congressional Republicans salivate at the idea of gutting the Consumer Financial Protection Bureau, the brainchild of Sen. Elizabeth Warren (D-Mass.). Now, President-elect Donald Trump is moving toward what they’ve long wanted: a weak agency that sides with financial predators over consumers. Trump met with former Rep. Randy Neugebauer (R-Texas) on Wednesday and is considering Neugebauer to run the CFPB, Trump spokesman Sean Spicer confirmed on a Thursday call with reporters. HuffPost previously reported that Neugebauer’s name was being floated as agency chief if Trump decides to fire the current director, Richard Cordray. When he was in Congress, Neugebauer opposed CFPB actions like the first-ever federal rule cracking down on payday loans.

Source: Huffington Post January 12, 2017 19:19 UTC