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Apr 20, 2018

04/20/2018: Mick Mulvaney on Wells Fargo, the role of regulators and restructuring the American economy

Wells Fargo will pay the federal government a billion dollars to settle charges of misconduct in its car and home loans. That’s a lot, but only a small percentage of the banks’ recent profits. It’s also the biggest bank fine imposed by the Trump administration and the first by the Consumer Financial Protection Bureau under the direction of Mick Mulvaney. He’s no fan of the agency he’s now in charge of, and he’s still Trump’s budget guy, so we had him on today to talk about all of it. Then: We’ll talk over the interview with our friends on the Weekly Wrap and take a look at where all that money’s going. Plus: unpacking Trump’s tweets about OPEC.

Then Rep. Mick Mulvaney (R-SC) testifies before the Senate Homeland Security and Governmental Affairs Committee during his confirmation hearing to be the next director of the Office of Management and Budget on Jan. 24, 2017 in Washington, DC.
Then Rep. Mick Mulvaney (R-SC) testifies before the Senate Homeland Security and Governmental Affairs Committee during his confirmation hearing to be the next director of the Office of Management and Budget on Jan. 24, 2017 in Washington, DC.
Chip Somodevilla/Getty Images

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Wells Fargo will pay the federal government a billion dollars to settle charges of misconduct in its car and home loans. That’s a lot, but only a small percentage of the banks’ recent profits. It’s also the biggest bank fine imposed by the Trump administration and the first by the Consumer Financial Protection Bureau under the direction of Mick Mulvaney. He’s no fan of the agency he’s now in charge of, and he’s still Trump’s budget guy, so we had him on today to talk about all of it. Then: We’ll talk over the interview with our friends on the Weekly Wrap and take a look at where all that money’s going. Plus: unpacking Trump’s tweets about OPEC.