The Consumer Financial Protection Bureau is weighing which proposed rules on its agenda to finalize before the end of the Biden administration.
Advocates say they’re bracing for a sharp reversal at the Consumer Financial Protection Bureau after four of the most aggressive years in its brief history Consumer advocates say they’re preparing for sweeping changes at one of Washington’s newest financial watchdogs under President-elect Donald Trump, whose allies have promised broad deregulation of companies that handle Americans’ money.
Trump's former FDA commissioner: ‘It will cost lives in this country' if RFK Jr. follows through on intentionsCFPB Director Rohit Chopra, whom consumer advocates expect to be replaced upon Trump’s taking office, has overseen an aggressive period atop the agency. It has clawed back The financial services industry bristles at many of these efforts.
The agency declined to comment on the record but said that it “continues to carry out its work separate and apart from political cycles.” That’s why experts say it’s possible the new administration — which campaigned on a “populist” agenda — could leave the guidance alone. in March, the move slashed the limit from $32 to $8 and drew swift legal pushback. The case is tied up in the federal court system, with Mick Mulvaney, who ran the CFPB during Trump’s first term, unwound some banking rules but also secured wins for consumers
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