Trump Appoints Treasury Secretary as Acting Head of CFPB After Firing Predecessor

The Trump administration has appointed a new Treasury Secretary and Acting Director of the Consumer Financial Protection Bureau (CFPB). Steven Mnuchin, the former Goldman Sachs executive, is set to take over the Treasury Department, while Mick Mulvaney, a staunch critic of the CFPB, will lead the agency on an interim basis. Mnuchin’s background in finance [...]

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Trumps Interim CFPB Leader Slashes Funding and Halts Oversight

The former head of the Consumer Financial Protection Bureau (CFPB) under the Trump administration has made significant budget cuts and halted oversight activities. The actions taken by the CFPB chief have raised concerns among consumer advocates and financial industry experts. The funding reductions and suspension of oversight programs are part of a broader effort to [...]

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Crypto Advocates Urge CFPB To Reconsider Proposed Rule On Digital Payments

A group of U.S. lawmakers have expressed their concerns over a proposed rule by the Consumer Financial Protection Bureau (CFPB) that could affect the crypto space. In a letter dated Jan. 30, Representatives Patrick McHenry, Mike Flood, and French Hill asked CFPB Director Rohit Chopra to extend the comment period for the rule by 60 […]

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CFPB leaves crypto wallets out of Larger Participants rule

The agency highlighted consumer and industry comments in a 259-page report detailing the final draft of the Larger Participants rule.

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CFPB proposes crypto firms refund users for funds lost to hacks

A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of funds.

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