The Consumer Financial Protection Bureau penalized a man $1 this week, for
illegally exchanging veterans’ pensions for high-interest “cash
advances.” Mark Corbett claimed in sworn statements to the bureau that
he had an inability to pay any fine of greater value, and the bureau
accepted $1 as payment for making illegal, high-cost loans to former
members of the armed forces.
Somehow, two other state regulatory
agencies, in Arkansas and South Carolina, assisted in the extraction of a
single dollar bill from Corbett.
This is not the first time during the
Trump administration that CFPB has taken an inability to pay into
account to reduce a fine for violations of consumer protection law.
Under the previous acting director, current acting White House chief of
staff Mick Mulvaney, this type of reduction was so widespread that it
came to be known as the “Mulvaney discount.” The American justice system rarely treats impoverished defendants with such mercy.
Mulvaney has since been replaced by a confirmed director, his former aide Kathy Kraninger. The discount, however, has remained.
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Source: The Intercept_
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