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Trump appoints new head of financial watchdog

WASHINGTON: US President Donald Trump on Friday appointed White House budget director Mick Mulvaney to head a financial watchdog that the administration has sought to overhaul as part of its deregulation push. Mulvaney, who described the Consumer Financial Protection Bureau (CFPB) as a "sick, sad joke" in a 2014 interview, will serve as acting director until a permanent head is nominated and confirmed, according to a White House statement. Richard Cordray, the first director of the CFPB who had long been in the banking…