U.S. Senator Elizabeth Warren has accused Mick Mulvaney ofwaging war on consumers by transforming an aggressive financialregulator into an industry lapdog.

She's not wrong that he's been proactive. Since taking over theConsumer Financial Protection Bureau in November, Mulvaney hasdropped investigations into payday lenders,pledged to soften rules and even unveiled a new eagle-emblazonedseal.

But in a surprising twist, it turns out the effort to overhaulthe seal was actually initiated by Richard Corday, the BarackObama-appointed CFPB director who has earned endless praise fromWarren and scorn from Republicans. And the seal that Cordray hadsettled on before he resigned to run for governor of Ohio is verysimilar to Mulvaney's selection, according to internal CFPB emailsobtained by Bloomberg News through a Freedom of Information Actrequest.