美国国家公共电台 NPR Trump Administration's Latest Strike On CFPB: Budget Cuts

 

MICHEL MARTIN, HOST:

The Trump¹ administration wants to dramatically cut funding for the Consumer Financial Protection Bureau. That's the agency created after the financial crisis to protect Americans from abuse by financial firms. Elizabeth Warren and other Democrats² have strongly defended the agency. And now critics say the administration's move is just the latest in an ongoing³ assault on the young agency. NPR's Chris Arnold has the story.

CHRIS ARNOLD, BYLINE⁴: The Trump administration says it wants to chop funding for the Consumer Protection Bureau by about $150 million or a quarter of its budget. That would be a disaster says Mike Calhoun. He's with the Center for Responsible Lending. He says the cuts would mean...

MIKE CALHOUN: Massive layoffs⁵ and disruptions and make it hard for it to do its job, a job that it's been doing incredibly well.

ARNOLD: Calhoun and other financial watchdog groups say the bureau has been paying for itself many times over. That's because part of its mission is to go after companies that swindle consumers and to get people their money back.

CALHOUN: So far, returning over $12 billion in relief to consumers who were treated illegally by financial companies.

ARNOLD: But some Republicans think that the bureau has too much power and that it's been using it to sue financial firms and strongarm settlements out of them, as well as being too aggressive in crafting new regulations. And at President Trump has now appointed one of the agency's harshest critics to be its interim⁶ director. As a congressman⁷, Mick Mulvaney sponsored legislation to abolish the CFP. Now he's in charge there, and he doesn't speak very highly of the agency he's now leading. Here's Mulvaney on CBS's "Face The Nation."

(SOUNDBITE OF TV SHOW, "FACE THE NATION")

MICK MULVANEY: This bureau is unlike any other federal bureaucracy. It had almost unlimited⁸ access to funds. It has no accountability to Congress. It is perhaps the most unaccountable bureau or agency there is. We want to run that place with a good deal of humility⁹ and prudence¹⁰.

ARNOLD: But critics say Mulvaney's not being humble¹¹, he's being reckless. Under his leadership, the bureau's put on hold new regulations for high interest what are called payday lenders. And it's dropped an investigation¹² into a payday lender that contributed to Mulvaney's campaign when he was in Congress. Mulvaney has said he doesn't think those contributions create a conflict of interest. Now, Mulvaney has proposed these steep budget cuts, which Democrats say they won't take sitting down.

(SOUNDBITE OF ARCHIVED RECORDING)

CHRIS VAN HOLLEN: We will fight any effort to defund the CFPB.

ARNOLD: That's Democratic Senator Chris Van Hollen. He pressed Mulvaney at a hearing this week about Mulvaney's decision to drop a lawsuit¹³ against an online lender. The lawsuit said the lender, called Golden Valley, charges illegal predatory interest rates.

(SOUNDBITE OF ARCHIVED RECORDING)

VAN HOLLEN: Nine hundred and fifty percent interest rates. I mean, this is higher than the mafia loan sharks. Were you part of the decision to drop the case against Golden Valley?

MULVANEY: Yes, sir.

VAN HOLLEN: OK. I'll follow up with that. I think it's an outrageous¹⁴ decision.

ARNOLD: Van Hollen says a report on NPR about Mulvaney dropping the lawsuit prompted him to start digging into complaints about the lender. NPR reported that Mulvaney dropped the lawsuit even though the entire professional career staff at the bureau wanted to press ahead with it. Van Hollen now says he wants a full accounting¹⁵ from Mulvaney about why he did that.

(SOUNDBITE OF ARCHIVED RECORDING)

VAN HOLLEN: It's pretty clear right now if, left to their own devices, Mulvaney and the Trump administration will essentially¹⁶ turn the keys to the agencies over to the very people who are cheating consumers.

ARNOLD: As far as the proposed budget cuts, the agency gets its funding from the Federal Reserve, not Congress. But if Mulvaney tries to slash¹⁷ its budget, Mike Calhoun says Congress could act to block the move. Polls show that the Consumer Financial Protection Bureau is popular with voters of both parties, so he says some Republicans might join Democrats to protect the agency. Chris Arnold, NPR News.

1 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

2 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• The Democrats held a pep rally on Capitol Hill yesterday. 民主党昨天在国会山召开了竞选誓师大会。
• The democrats organize a filibuster in the senate. 民主党党员组织了阻挠议事。 来自《简明英汉词典》

3 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

4 byline   

n.署名；v.署名

参考例句：

• His byline was absent as well.他的署名也不见了。
• We wish to thank the author of this article which carries no byline.我们要感谢这篇文章的那位没有署名的作者。

5 layoffs   

临时解雇( layoff的名词复数 )； 停工，停止活动

参考例句：

• Textile companies announced 2000 fresh layoffs last week. 各纺织公司上周宣布再次裁员两千人。
• Stock prices broke when the firm suddenly announced layoffs. 当公司突然宣布裁员时，股票价格便大跌

6 interim   

adj.暂时的，临时的；n.间歇，过渡期间

参考例句：

• The government is taking interim measures to help those in immediate need.政府正在采取临时措施帮助那些有立即需要的人。
• It may turn out to be an interim technology.这可能只是个过渡技术。

7 Congressman   

n.（美）国会议员

参考例句：

• He related several anecdotes about his first years as a congressman.他讲述自己初任议员那几年的几则轶事。
• The congressman is meditating a reply to his critics.这位国会议员正在考虑给他的批评者一个答复。

8 unlimited   

adj.无限的，不受控制的，无条件的

参考例句：

• They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。
• There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。

9 humility   

n.谦逊，谦恭

参考例句：

• Humility often gains more than pride.谦逊往往比骄傲收益更多。
• His voice was still soft and filled with specious humility.他的声音还是那么温和，甚至有点谦卑。

10 prudence   

n.谨慎，精明，节俭

参考例句：

• A lack of prudence may lead to financial problems.不够谨慎可能会导致财政上出现问题。
• The happy impute all their success to prudence or merit.幸运者都把他们的成功归因于谨慎或功德。

11 humble   

adj.谦卑的，恭顺的；地位低下的；v.降低，贬低

参考例句：

• In my humble opinion,he will win the election.依我拙见，他将在选举中获胜。
• Defeat and failure make people humble.挫折与失败会使人谦卑。

12 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

13 lawsuit   

n.诉讼，控诉

参考例句：

• They threatened him with a lawsuit.他们以诉讼威逼他。
• He was perpetually involving himself in this long lawsuit.他使自己无休止地卷入这场长时间的诉讼。

14 outrageous   

adj.无理的，令人不能容忍的

参考例句：

• Her outrageous behaviour at the party offended everyone.她在聚会上的无礼行为触怒了每一个人。
• Charges for local telephone calls are particularly outrageous.本地电话资费贵得出奇。

15 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

16 essentially   

adv.本质上，实质上，基本上

参考例句：

• Really great men are essentially modest.真正的伟人大都很谦虚。
• She is an essentially selfish person.她本质上是个自私自利的人。

17 slash   

vi.大幅度削减；vt.猛砍，尖锐抨击，大幅减少；n.猛砍，斜线，长切口，衣衩

参考例句：

• The shop plans to slash fur prices after Spring Festival.该店计划在春节之后把皮货降价。
• Don't slash your horse in that cruel way.不要那样残忍地鞭打你的马。