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Trump administration tightening lid on CFPB amid call for reform




Director of Legislative Affairs Marc Short (L) listens while Office of Management and Budget Director Mick Mulvaney (R) speaks about the Consolidated Appropriations Act of 2018 at the White House March 22, 2018 in Washington, DC.
Director of Legislative Affairs Marc Short (L) listens while Office of Management and Budget Director Mick Mulvaney (R) speaks about the Consolidated Appropriations Act of 2018 at the White House March 22, 2018 in Washington, DC.
BRENDAN SMIALOWSKI/AFP/Getty Images

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The director of the Consumer Financial Protection Bureau (CFPB), Mick Mulvaney, is expected to ask Congress to restructure the agency, according to reports.  

Meanwhile, the federal government wants to make drastic changes to weaken the agency’s independence. The CFPB is responsible for consumer protection in the financial sector.

Guest:

Yuka Hayashi, reporter who covers financial regulations for the Wall Street Journal; she tweets @tokyowoods