Democrats lash out at consumer watchdog amid reports it is dropping Equifax inquiry
In this Monday, Nov. 27, 2017, file photo, Mick Mulvaney speaks during a news conference after his first day as acting director of the Consumer Financial Protection Bureau in Washington. Democratic lawmakers lashed out at the Consumer Financial Protection Bureau on Monday amid a report that the agency was backing off an investigation into a massive data breach at Equifax last year that exposed sensitive data about millions of people
Democratic lawmakers lashed out at the Consumer Financial Protection Bureau on Monday amid a report that the agency was backing off an investigation into a massive data breach at Equifax last year that exposed sensitive data about millions of people.
Reuters, citing former officials familiar with the probe, reported that the CFPB has not taken routine steps to move forward with an investigation into the incident, including ordering subpoenas or seeking sworn testimony from Equifax executives.
The report stirred an immediate backlash from Democratic lawmakers, who have feared that President Donald Trump's pick to temporarily lead the agency, Mick Mulvaney, was weakening the consumer watchdog. Failing to investigate the data breach would put "145 million Americans at risk is malpractice," said Sen. Sherrod Brown, D-Ohio, ranking member of the Senate Banking Committee. Sen. Catherine Cortez Masto, D-Nev., said "the Trump Administration has chosen to protect Equifax, while denying Americans justice and accountability."
The CFPB's former director, Richard Cordray, said on Twitter "if you're not going to stand up for consumers on something this important, then what good are you?"
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