With his appointment of Mick Mulvaney as acting director of the Consumer Financial Protection Bureau, President Donald J. Trump is undoing much of what Richard Cordray put in place.

Among leading Republicans and the White house, President Barack H. Obama’s appointee to bring the bureau to life represents so much of what they are trying to change.

Mulvaney referred to Cordray’s excessive regulation in a memo last week to the bureau’s staff in stating, "the days of aggressively ‘pushing the envelope’ of the law in the name of the ‘mission’ are over."

Source: Mortgage Daily