how has the trump administration tried to change the consumer financial protection bureau? guest: republicans and a lot of groups in the financial services industry, credit unions, banks, all said the bureau was everstepping its mandate, was being too afwressive and was

overreaching beyond its powers which they said were also way too much for any one independent agency. so when mick mulvaney became acting director of cfpb in 2016 he started acting on that. he pulled back the bureau's oversight of the financial services industry, started collecting less data, sought to revise and weaken a lot of rules that were done under the obama administration and previous director and followed a checklist of all the republican industry agreements with the agency in order to pull it back and make it have less to have a footprint host: house democrats are calling the bill the consumers first act. how would the bill reverse some changes made so far in the trump administration? guest: the bill would essentially flip it back to november 2017 before mick null veney took over. when he was going to be director he reorganized several agencies to reduce their independence,

brought more control over the oversight and enforcement mechanisms underneath the director's ufse. -- office. he ended certain data collection practices and organized and regrounded the bureau to where it was not tchailed consumer financial protection anymore but the bureau of consumer financial protection. some of these have been reversed under the new director but this bill would codify society mulvaney couldn't do -- did ever again and return the agency to the state it was in before mulvaney took over. guest: one of your articles at thehill.com uses that word, reverses. legislation by maxine waters, chair of the financial services committee, mick mulvaney served as director. what's been the working relationship between mick mulvaney and chairman waters and what are some of the issues that she found most objectionable at the -- that the bureau has done

so far? guest: the relationship was extremely tense. these are two people diametrically opposed on almost every issue but especially the cfpb. mick mulvaney was a member of the financial service committees and waters was frustrated with his efforts to pull back a lot of supervision in the enforcement of a lot of the bureau's regulation. she was particularly concerned about situations that were going on in the office of fair lending which was reorganized so the director would have more direct control over it and would have less independence to go pursue these cases of racial discrimination in lending, anything else that, you know, could cause one american to get a worse deal from a bank or a lender than another. that was one of her main areas of concern. and she used every opportunity she could to try to get mulvaney to reverse that or at least ramp up the political pressure. host: moments ago you mentioned kathy craniger took over as head

of cfpb. headline says, consumer bureau chief reverses moves, what has she done and how has that beener perceived by democrats? guest: she said she's the full-time director, mulvaney had a different mission. she understands she has a long-term vision she needs to implement. she's moving the bureau toward a middle ground, not where it was under democrats and cordry but, not where it was under mulvaney. she's reversed some of the things mulvaney has done, like rebranding the bureau, it's now the consumer financial protection bureau again. she revised some boards that he eliminated or changed membership of and insisted on taking more of a middle ground approach, a more balanced approach to revising some of the rules and regulations. host: the bill is called the consumer first act, 17

amendments allow under the rule. what are some of the ones we should watch for? guest: one amendment i'm particularly interested in is an amendment that would reinstitute a memorandum of understanding between the cfpb and education department so the cfpb would be able to get data from the education department as it pursues cases involving student loans and its oversight of federal student loan servicers. this is something that ended when education secretary betsy devos came into the education department. and something craniger said isn't ok she needs more information from the education department to pursue those cases and oversight of loan servicers. that's one thing i'm keeping an eye on. another amendment i'm looking at is an amendment from republicans that would take the bureau's funding and put it under congressional control. the bureau is currently funded through the federal reserve system. the director can request a certain amount of money and that is only -- the fed is obligated to give them up to that $700 million.

this provision would subject the cfpb to congressional control for spending like a wide array of departments and agencies that congress does control funding for. but this isn't something democrats have opposed at every turn, it's unlikely to get any support in the democratic house right now. host: our guest sill vin -- sylvan lane, read his reporting on this and other issues washin.

cotton served in the army in iraq and afghanistan and between tors he served with the infantry regiment, old guard at arlington national cemetery. he explains what will be happening thursday at the cemetery. guest: thank you for your interest. evth