Released: August 02, 2018
The ‘Mulvaney discount’: Shrinking fines for law-breaking companies
Source: David Dayen, The Intercept
There’s a hot new trend in Donald Trump’s Washington: the “Mulvaney discount.”
After pausing enforcement work when Acting Director Mick Mulvaney took over, the Consumer Financial Protection Bureau has been on a relative tear, announcing five civil settlements of cases begun under Mulvaney’s predecessor, Richard Cordray. But in at least three of them, CFPB has explicitly reduced the fine handed down against corporate offenders to a fraction of the initial amount. The smaller fines mean softer punishment for violations of law and, in some cases, less restitution to victims of the misconduct.
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