Since taking over the Consumer Financial Protection Bureau last year, White House budget director Mick Mulvaney has not hidden his dissatisfaction with the agency’s enforcement record.

Mulvaney declared an end to the days of “pushing the envelope.” He signaled, in a strategic plan released this month, that the agency would make lighter use of perhaps the most powerful weapon in its enforcement arsenal: the authority to police “unfair, deceptive or abusive acts or practices.” In industry jargon, that’s “UDAAP” for short.