Reported about 8 hours ago
The U.S. Consumer Financial Protection Bureau (CFPB) remains unable to monitor financial firms despite internal commitments to legal compliance, as revealed in an internal email. Senior officials have clarified that supervisory work will not resume, contradicting claims made in court about the agency's commitment to fulfill its obligations. The CFPB, which serves as the primary federal authority for regulating non-bank financial institutions and enforcing consumer protection laws, faces legal and political challenges, including a union's attempt to prevent the agency's dismantling.
Source: YAHOO