Mick Mulvaney testifying before Congress

"Mick Mulvaney Is Having a Blast Running the Agency He Detests ... Trump’s pick to lead the Consumer Financial Protection Bureau says he wants to give it the credibility of the SEC" — Bloomberg's Devin Leonard and Elizabeth Dexheimer.

The backdrop: Mulvaney served three terms in Congress as a member of the Tea Party, where he railed against the premise of the CFPB and its place in America. Now, he's trying to transform it into a government creation that matches his worldview.

  • "Six months into his tenure, Mulvaney [who remains White House budget director while serving as acting CFPB director] is doing everything he can to transform the CFPB from a regulatory crown jewel of liberals."
  • "He’s frozen data collection in the name of security, dropped enforcement cases, and directed staff to slash next year’s budget."
  • "He also wants to curb the agency’s independence by giving Congress — rather than the Federal Reserve — control of its spending, and replace the powerful director position he fills with a five-person commission."
  • Mulvaney: “We are still Elizabeth Warren’s child ... As long as we’re identified with that one person, we’ll never be taken as seriously as a regulator as we should.”
  • Keep reading.

Go deeper

Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 18,710,668 — Total deaths: 704,869 — Total recoveries — 11,284,150Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 4,818,228 — Total deaths: 157,930 — Total recoveries: 1,576,425 — Total tests: 58,903,657Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.
Updated 2 hours ago - Technology

Facebook, Twitter take down Trump post saying kids are immune to coronavirus

Photo: NurPhoto/Getty Images

Facebook removed a video post from President Trump Wednesday in which he claimed in an interview with Fox News that children are "almost immune" to COVID-19.

Why it matters: It’s the first time that Facebook has removed content from Trump's account for violating policies on coronavirus-related misinformation.

Updated 2 hours ago - Politics & Policy

Trump campaign outraises Biden's by $20 million in July

Combination images of President Trump and former Vice President Joe Biden. Photo: Alex Wong/Getty Images/Mark Makela/Getty Images

President Trump's re-election campaign and the Republican National Committee announced on Wednesday they collectively raised $165 million in July.

Why it matters: With 90 days until the election, Trump and the RNC outpaced the Biden campaign, the Democratic National Committee and their joint fundraising committees, who announced earlier Wednesday that they raised $140 million last month.