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tv   Interview Sylvan Lane  CSPAN  May 21, 2019 7:18pm-7:27pm EDT

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adjourn. the speaker pro tempore: the question is on the motion to adjourn. those in favor say aye. those opposed, no. the ayes have it. the motion is adopted. accordingly, the house stands adjourned until 10:00 a.m. tomorrow for morning hour debate.
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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
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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
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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
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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
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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
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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 at
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thehill.com and also on twitter, @sylvanlane. >> here's a look at our primetime schedule. 9:00 p.m. eastern, the house judiciary committee meeting to hear testimony from don mcgann on the mueller investigation. mr. mcgann refused to show up at the hearing. we'll have that on c-span. at 10:00 eastern on c-span 25, look at prescription drug prices. at 8:00 p.m. on c-span3, officials from the election assistance commission look at election security ahead of 2020. >> c-span's "washington journal" live every day with news and policy issues that impact you. coming up wednesday morning, connecticut democratic congressman jim himes will join us to talk about tensions with iran and other u.s. foreign policy challenges and then dan caldwell, of concerned veterans for america and john sole will talk about veterans issues and their collaboration on war
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authorization measures in congress. watch "washington journal" live at 7:00 eastern wednesday morning. join the discussion. >> tomorrow, testimony from treasury secretary steve mnuchin on the international financial system before the house financial services committee. live at 8:30 a.m. eastern on c-span3. then sunday, rolling thunder holds its final motorcycle procession, the ride for freedom from the pentagon to the lincoln memorial. following the ride, a rally with remarks from the veterans affairs secretary. live at noon eastern on c-span. >> starting memorial day, may 27, all week in primetime, c-span has coverage of commencement ceremonies taking place at colleges and universities across the country. featured speakers include maryland representative elijah cummings, acting defense secretary patrick shan han. former georgia house minority leader stacey abrams.
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president donald trump. and supreme court associate justice sonia sotomayor. our commencement coverage starts memorial day at 8:00 p.m. eastern on c-span. watch online any time at c-span.org. and listen on the free c-span radio app. earlier today house speaker nancy pelosi hosted a reception to mark the 100th anniversary of the house passing the 19th amendment to the u.s. constitution. which guarantees women' the right to vote. this is 40 minutes. >> ladies and gentlemen, the honorable nancy pe he see. accompanied by the honorable

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