From payday loans to prepaid cards, Trump prepares to loosen consumers protections [MarketWatch]
Navient Corporation (NAVI)
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Source: MarketWatch
From payday loans to prepaid cards, Trump prepares to loosen consumers protections The temporary head of the Consumer Financial Protection Bureau, Mick Mulvaney, has pledged to run the bureau differently — and consumer advocates are worried he could take the teeth out of the watchdog agency. The Dodd-Frank Act, which created the CFPB, makes it unlawful for any provider of consumer financial products or services to engage in any “unfair, deceptive, or abusive act or practice.” During its nearly eight-year history, the watchdog agency has taken on everything from the prepaid card industry to the mortgage servicing industry . However, the bureau will no longer “push the envelope,” Mulvaney wrote in an op-ed published Tuesday in The Wall Street Journal. “When it comes to enforcement, we will focus on quantifiable and unavoidable harm to the consumer,” he wrote. “If we find that it exists, you can count on us to pursue the appropriate remedies vigorously. If it doesn’t, we won’t go looking
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Earnings
- 2/1/24 - Miss
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Sec Filings
- 4/17/24 - Form DEFR14A
- 4/16/24 - Form 8-K
- 4/11/24 - Form DEFA14A
- NAVI's page on the SEC website