The Consumer Financial Protection Bureau filed one lawsuit and reached five settlements last week, totaling nearly $206.6 million in civil resolutions and redress.
Democrats may have lost power in Washington in part because voters blamed them for the rising cost of goods, but when Joe Biden’s administration hands over power, it will also leave behind a series of strong new protections for consumers.
Roughly 100 rules implemented by the Biden administration could be repealed by conservatives under the Congressional Review Act.
The CFPB—tasked to protect consumers from unfair banking practices—was created by Democrats in the wake of the 2008 financial crisis.
Banking Dive takes a look at several trend areas — from M&A to regulation — to give its best guess on developments to come this year. But as observers in the ESG sector will tell it, change has been rapid and thorough.
As Republicans mull unwinding Biden-era CFPB policies, Chopra’s strategy seems to have been “to make that as hard as possible by making the list as long as possible,” one analyst said.
Republicans generally expected higher inflation than Democrats throughout President Joe Biden ’s presidency, according to the University of Michigan’s monthly consumer sentiment survey. Still, from mid-2021 on, members of both parties said they thought prices would climb faster than the Federal Reserve’s annual target of 2 percent.
The Trump administration and Congress must end the weaponization of financial rules and attempts at censorship by financial regulators.
Mr. Chopra, long a target of criticism by Republican lawmakers and banks, has not yet been forced out. “I swore an oath to a five-year term,” he said this week.
The Trump administration has issued dozens of executive orders, but change to banking regulations and agency leaders isn’t going to be quick, analysts say.
A wide-ranging pause on agency funds and grants remains on ice — even after the White House rescinded a contested OMB memo announcing the suspension.
Over 100 million Americans are saddled with medical debt, but a few initiatives are addressing — or even eliminating — it.