Apr 20, 2018

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

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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…

Segments From this episode

Mulvaney on the CFPB: "We need to be a regulator, not somebody's child"

Apr 20, 2018
The acting director of the Consumer Financial Protection Bureau talks about the agency's decision to fine Wells Fargo.
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

Looking for a luxury apartment? Try Pittsburgh

Apr 20, 2018
Developers have put up new rental units to attract tech workers. But many are sitting empty.
General view of Downtown Pittsburgh, Pennsylvania, on June 2, 2017.
ERIC BARADAT/AFP/Getty Images

Global economic recovery eats through oil glut

Apr 20, 2018
This morning President Donald Trump turned his ire on OPEC: “OPEC is at it again,” he tweeted. “Oil prices are artificially Very High!” Sure, it’s convenient to blame someone for high gas prices. But the broader story — beyond the 280…

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.

Music from the episode

Uncle ACE Blood Orange
Doo Wop (That Thing) Ms. Lauryn Hill
Crazy In Love (feat. Jay-Z) Beyoncé, JAY Z
Feel It Still Portugal. The Man