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Wednesday, June 21, 2017

Trump Administration aims to overhaul Dodd-Frank, gut CFPB

The Consumer Financial Protection Bureau’s detractors have much to be happy about now that the Trump Administration and Congress are pushing to curb the federal consumer watchdog agency’s power to supervise providers of payment and other financial services.

The Treasury Department, on June 12, 2017, laid out a set of proposals in a report titled A Financial System that Creates Economic Opportunities: Banks and Credit Unions. This came just days after the House passed the Financial CHOICE Act, which would revamp the CFPB and undo many rules imposed under the 2010 Dodd-Frank Act

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