The consumer bureau's former director had ordered an investigation into Equifax past year after a cyberattack on the company exposed the personal information of 143 million people to hackers. Failing to investigate the data breach would put "145 million Americans at risk is malpractice", said Sen.
In her letter to the Inspector General, Senator Baldwin wrote, "The mission of the CFPB is to protect consumers in the financial marketplace. A full and fair FTC investigation now appears to be the only way that we will determine the steps needed to prevent similar attacks in the future", wrote Ms. Klobuchar, a member of the Senate Committee on Commerce, Science and Transportation.
Today, Acting Director of the CFPB Mick Mulvaney and I met and discussed ways the Office of the Comptroller of the Currency and the CFPB can work together to ensure the nation's banking system continues to meet the needs of consumers, businesses, and communities across the country.
"As policy, we do not confirm or deny enforcement or supervisory matters", John Czwartacki, a senior adviser to Mulvaney, said in a statement.
Mulvaney has been under pressure from some Democratic lawmakers for his efforts to revamp the CFPB, which was created after the global financial crisis. Last week, a CFPB unit responsible for pursuing discrimination cases was stripped of its enforcement powers.More news: Kings Score 9 In 1st, Rally To Beat Bulls 104-98
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The Federal Trade Commission is also investigating the Equifax breach. Mulvaney has also dropped a lawsuit against payday lenders and said the agency would reconsider rules the financial industry complained would be particularly onerous.
Mick Mulvaney on Tuesday announced the hiring of Kirsten Sutton Mork as the bureau's chief of staff. Sutton Mork previously served as staff director of the House Financial Services Committee under its chairman, Texas Republican Rep. Jeb Hensarling.
For Republicans, who have always been critical of the CFPB, Mulvaney's efforts are a welcome change for the agency, which they say has been too aggressive.
The bureau refused to comment on the revelations, it only said that it was "looking into" the breach and the agency's "response" to it. In a memo to CFPB last month, Mulvaney said the agency would act with "humility and prudence" and no longer "push the envelope".