What budget priorities Mulvaney has for the CFPB will become more clear once he makes his request for third-quarter funding later this year as the agency spends down its rainy day fund.
Mulvaney's request for no funding came as Mulvaney announced the first step toward an overhaul of the agency: a review of its entire operation.
CFPB acting director Mick Mulvaney wrote in a letter to Fed Chair Janet Yellen that, based on his assessment of the bureau's financial status, the agency has more than enough available funds on hand to cover all of its operating costs for the second quarter of fiscal 2018. The zero was typed in boldface.
In his letter, Mr. Mulvaney states that he has been assured that the current balance of the CFPB's fund at the Federal Reserve Bank of NY is sufficient for the CFPB "to carry out its statutory mandates for the next fiscal quarter while striving to be efficient, effective, and accountable".
While previous management has preferred to carry a reserve fund, Mulvaney said there's no law requiring it to do so and he sees no "practical reason" to continue the practice.
Not requesting any money will allow the bureau to do its part for deficit reduction.
Find out more about this unprecedented decision and what Democrats are saying in response.
President Donald Trump named Mulvaney as the temporary head of the the agency in late November, after former director Richard Cordray announced he was retiring to run for OH governor. It also played a key role in penalizing Wells Fargo & Co. for its creation of unauthorized accounts.
The Consumer Financial Protection Bureau on Thursday dropped a lawsuit against four payday lenders.
The consumer agency in its lawsuit filed a year ago accused the lenders of deceiving consumers and unlawfully withdrawing from their bank account to pay debts they didn't legally owe. Regulators and consumer advocates say the loans, which are meant to be repaid quickly, can trap borrowers in cycles of costly debt that are hard to escape. The roughly $150 million he asked the Fed to transfer to the Treasury instead of to the CFPB is a laughably small amount to contribute compared to the billions in positive material gains for American workers that the agency uses its budget to win. "This is signaling that the [bureau] is going to stand down on the online payday lenders who refuse to comply with state interest-rate caps".
Fournette escaped injury when a auto rear-ended ended his vehicle, pushing his Mercedes-Maybach 6 into the auto in front of him. According to reports the person who hit him was a Steelers fan who was going to the airport to drop the in-laws off.
Bracamontes has repeatedly proclaimed his guilt and has requested the death penalty at past court hearings, ABC News reported . White previously ruled that Bracamontes was mentally competent, but Barbour asked for the judge to reconsider his decision.
His enthusiasm for a second crossing was not shared by a Downing Street spokesman who said: "I haven't seen any plans on that". Currently, the only way the countries are connected are by the Channel Tunnel railway line which runs under the sea.
Mattis went on to say the goal of this strategy is to send a message to anyone that wants to take on the U.S. Defense Secretary James Mattis speaks about the National Defense Review, Friday, in Washington .
Blake Bortles is feeling the love from Bengals fans after he helped the Jaguars beat the Steelers this past weekend. Bengals fans took notice of the performance against their rival and chose to thank the third-year quarterback.
But the challenge is to start everything from scratch - fresh auction, who will we get, whether we will get the core team or not. The fact that we sold off all endorsement deals even before the retentions were announced underlines CSK's brand value.
The Cleveland Cavaliers earned a hard-fought 104-103 win over the Orlando Magic on Thursday, ending a four-game losing streak. And the former MVP looked sharp in limited action - notching nine points and three boards in just over 13 minutes of work.
As per boxofficeindia.com, the number of cinema-goers in India has gone down to 22.5 crore in 2017 from 34 crore in 2013. Salman Khan starrer Tiger Zinda Hai brought cheer to the box-office as a subdued 2017 comes to a close.
The official Cranberries website cited "medical reasons associated with a back problem" that prevented O'Riordan from performing. Olé Koretsky , the boyfriend of Cranberries singer Dolores O'Riordan, has spoken about her death for the first time.
Palestinian witnesses said they saw at least two Palestinians arrested, with clashes continuing into Thursday morning. The Israeli army said in a statement on Twitter that Jarrar had used a "self-manufactured weapon".
During his time in Major League Baseball , he won the Cy Young Award twice and pitched a no-hitter in the 2010 playoffs. The spokesperson said the plane was found upside down in four feet of water and called it a " high-energy impact ".
However, the Apple CEO advised users not to do so, warning that it could result in unexpected restarts of their smartphones. As soon as we get some details on the exact release date of the iOS 11.2.5 software update, we will let you guys know.
UNRWA was created almost 70 years ago, after the 1948 Arab-Israeli war, to assist more than 700,000 displaced Palestinians. The United States, far and away the largest donor to UNRWA, pledged $355 million toward agency operations in 2016.
Putin was photographed with his shirt off while on a spearfishing vacation in the southern mountain lake in Siberia. In August 2009, a bare-chested Putin was pictures riding a horse during a Siberian holiday.
While Karadima's victims were deemed credible by the Vatican, Francis apparently felt the need to change course on Thursday. They staged an unprecedented protest during his 2015 installation ceremony and have protested his presence ever since.
He also favors a suggestion that mayors on the short list "form a pact to say no to incentives Amazon will expect". It is also home to a Whole Foods, a grocery store chair Amazon purchased previous year .
Trump used that word or a substantially similar word. "Others in the room were also using tough language". Under persistent questioning, Nielsen said she didn't recall the specific language used by Trump.
Ted Kennedy of MA and Republican Sen. "The US$20 billion dollar Wall is "peanuts" compared to what Mexico makes from the U.S. Of the 26 seats now held by senatorswho caucus with Democrats up for election this year, 10 are in states Trump won in 2016.
The two deadly accidents , along with a string of other mishaps, has forced the Navy to do some serious soul searching in general. In June, the USS Fitzgerald collided with a Philippines cargo ship off Japan, resulting in the deaths of seven USA sailors.
By contrast, as THR points out, "the new Star Wars films lean especially heavily on references and nostalgia for the originals". He's not exactly the Luke you know, with the years in isolation taken away any youthful exuberance, but my god he's still Luke.
The levies will place additional financial constraints on households and small businesses within the Cape metropolitan area. One of the measures, which the council will vote on Friday, is a punitive tariff for the city's thirstiest consumers.