❝ Want a favor from a member of Congress? Give him money. That was the advice Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau and head of the Office of Management and Budget, gave to a group of some 1,300 bankers and lending industry professionals at a conference in Washington, DC.
Mulvaney, a former South Carolina representative, said he would only meet with lobbyists who had donated to his campaign while speaking at the American Bankers Association conference on Tuesday, the New York Times reported. “We had a hierarchy in my office in Congress,” Mulvaney said. “If you’re a lobbyist who never gave us money, I didn’t talk to you. If you’re a lobbyist who gave us money, I might talk to you.”
❝ He did emphasize that at the top of the whom-he’d-talk-to ladder were his constituents — regardless of financial contributions — but lobbyists had to pay up…
❝ The payday lending industry donated more than $60,000 to Mulvaney’s past congressional campaigns.
Since Mulvaney took over at the CFPB, the government’s consumer watchdog, the bureau dropped sanctions against the online payday lender NDG Financial Corp., which was accused of running a “cross-border online payday lending scheme.” It scrapped another lawsuit against four Kansas-based payday lenders that allegedly stole millions of dollars from consumers’ bank accounts to pay debts they didn’t owe. The agency shut down a probe into World Acceptance Corp, which donated at least $4,500 to Mulvaney’s congressional campaigns…