Record Fine for Wells Fargo

Wells Fargo -- reporting a net income of $4.7 billion in the first three months of 2018 -- was hit with a $1 billion fine for its home and auto loan abuses.

It's the largest fine ever issued by the Consumer Financial Protection Bureau, currently led by deregulation proponent Mick Mulvaney.

Though he was already the director of the Office of Management and Budget, President Trump appointed Mulvaney to lead the CFPB as acting director.

Mulvaney said in 2015, "I don’t like the fact that CFPB exists, I will be perfectly honest with you."

In a 2018 funding request, Mulvaney asked for $0 for the watchdog agency.

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