As Trump gets ready to waste tens of millions of taxpayer dollars on a military parade in his honor to honor the troops, his regime is getting ready to stab them in the back. Again.
The Trump administration is planning to suspend routine examinations of lenders for violations of the Military Lending Act, which was devised to protect military service members and their families from financial fraud, predatory loans and credit card gouging, according to internal agency documents.
Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation, the main consumer measure protecting active-duty service members, according to a two-page draft of the change.
Financial institutions love military families because so many of them are in dire financial straights. They also tend to be young. That makes them easy prey for confusing loans and credit cards with obscure clauses. It got so bad, Congress literally had to pass a law to protect them from the vultures destroying their lives. Naturally, the vultures objected to this loss of revenue but it took Donald Trump and his regime of 1%ers to give them the green light to go after military families again.
The sheer cruelty of the Trump regime is impossible to overestimate. This is a group of people that whips its base into a fury because black NFL players are supposedly disrespecting the troops (they're not). But here they are, throwing those same "precious" troops under the bus for no better reason than to let rich people exploit them.
It's not like credit card companies can't advertise to the troops or loan companies can't offer loans. They can still make plenty of money off of military families. But that's not good enough. They need to be able to rip them off and leave them in a deep financial hole. Because, you know, Trump loves the military.
Mulvaney is claiming that he's simply ending "government overreach" because the proactive measures taken to protect military families aren't "legal". Curiously, no one ever disputed the measures until Mulvaney decided to end them. He claims he wants Congress to codify the examinations that regularly caught bad actors but there's no chance it will pass, making his request little more than smoke and mirrors.
The real issue here (other than screwing military families and helping out the rich) is to weaken the Consumer Financial Protection Bureau that Mulvaney was illegally put in charge of. As the duly appointed representative of Wall Street, Mulvaney's job is to dismantle the CFPB, an agency whose entire job is to protect average Americans from the depredations of the rich. The fact that he can't even allow the agency to do its job to protect the troops should tell you everything you need to know about how little Republicans care about working Americans.
The GOP has become a toxic parasite that cannot stop attacking its host even if it means killing the host and itself in the process. If they are not removed from power, they will destroy the economy and plunge the planet into an economic depression that will make the 1930s look like a time of plenty. Vote blue in November like your life depended on it because if you're one of the hundreds of millions of vulnerable people in America, it does.