Still, Trump's team can reverse many of the policies established during the five-year tenure of former director Richard Cordray, who resigned Nov. 24 to run for Ohio governor as a Democrat.
"Richard Cordray did good by consumers. However, at times, the bureau also overreached regarding its jurisdiction, penalties, and regulations," said Sachs.
In addition, banks and other financial companies have long complained that information is posted by the CFPB without getting fact-checked for accuracy. As a congressman, Mulvaney cosponsored a 2016 bill that would have barred the CFPB from posting unverified complaints. He now has the authority to halt the practice.
"I don't think the database will go away in its entirely, but I think certain information may become non-public," Sachs said.
Sachs anticipates that the hiring freeze will stay in place for the forseeable future, meaning that positions that come open won't be filled. "Typically, 5 to 10 percent turnover is routine, so in the next year, a hundred or so employees might leave and they won't be rehired," he said.
Sachs sees potential parallels to the Federal Trade Commission, which went through a similar transition when Ronald Reagan, a conservative Republican, was elected President in 1980. The FTC put the brakes on some of its enforcement activity, but eventually had to pick it back up due to the prevalence of unlawful activity and industry complaints.
"Eventually the FTC had to start bringing enforcement actions because fraudsters were running rampant," Sachs said. "Set aside Republicans versus Democrats—I don't think anyone thinks fraud is ok," Sachs said.