Here, in the American Banker. Excerpt: President Trump confirmed on Monday that his goal is to eliminate the Consumer Financial Protection Bureau, which he said “was set up to destroy people.” Speaking to reporters from the Oval Office, Trump was asked on Monday afternoon to confirm that his goal was to have the CFPB totally […]
Author Archives: Jeff Sovern
Here, by Stacy Cowley. Excerpt: “I do not believe it is appropriate, nor lawful, to stop all supervisory activities and examinations, and I cannot longer serve as the supervision director,” Lorelei Salas, the bureau’s acting assistant director for supervision examinations and assistant director for supervision policy, wrote in an email to the supervision staff.
Here’s what Law360’s Jon Hill and Courtney Bublé reported in their article, ‘Stand Down’: CFPB’s Acting Chief Pulls Employees Off Job: “I don’t give a flying fart about who is in the director’s office,” one staffer told Law360 on condition of anonymity to protect against potential retaliation. “We’re willing to follow the director’s agenda no […]
We posted the White House statement on the CFPB earlier today. Just to remind you, it calls the CFPB a “woke, weaponized arm of the bureaucracy that leverages its power against certain industries and individuals disfavored by so-called “elites” and then gives what purport to be examples of that conduct. One of the examples is […]
Here. The whole article is worth a read, but here’s an excerpt: Sources tell the Prospect that industry trade groups are alarmed at the rapid dissolution of the CFPB, which puts things in a far more uncertain state than before it was established in 2010. Even regulated industries acknowledge that CFPB contributed to the smooth functioning of […]
Here. (confession: I haven’t watched the video yet).
Here’s the text, with apologies for the formatting: FOR IMMEDIATE RELEASE 02/10/25 CFPB Isn’t a Wall Street Regulator, It’s a Main Street Regulator New polling from CBS News shows Americans are overwhelmingly positive about President Donald J. Trump’s return to office and his commitment to making good on his promises. The Consumer Financial […]
Marisa Kabas posted the email here.
The complaint to stop the shutdown is here. A second complaint, to stop the disclosure of employee information to DOGE, is here. It’s hard to square complaints about government waste with government employees suing so they can get back to work.
. . . can be read at Credit Slips. As usual, Adam makes some very thoughtful points.