Reported about 13 hours ago
The Consumer Financial Protection Bureau (CFPB) has decided to rescind two regulations established during the Biden era that required nonbank financial entities to register and report compliance with local court orders. Acting Director Russ Vought stated that the decision was made due to the redundancies and cost concerns associated with the registries, aligning with a deregulatory approach reminiscent of the Trump administration. This move is expected to benefit major technology companies and reduce regulatory burdens previously aimed at supervising nonbanks.
Source: YAHOO