Reported about 10 hours ago
Employees at the Consumer Financial Protection Bureau (CFPB) expect the agency to terminate all enforcement actions as it faces severe budget cuts and potential layoffs. This follows the recent annulment of oversight orders against U.S. Bank and Apple, which has raised concerns among staff that the bureau is moving to eliminate regulatory oversight in favor of the financial industry. The CFPB has significantly reduced enforcement actions since the beginning of President Trump's second term, leading to fears about the agency's future and its ability to protect consumers.
Source: YAHOO