The Trump administration has ordered an effective shutdown of the Consumer Financial Protection Bureau (CFPB), directing the agency to stop investigations, suspend rule implementations, and cease supervision activities. Russell Vought, the newly appointed director of the Office of Management and Budget, issued the order in a Saturday night email. Newsweek reached out to the White…
Judge blocks Elon Musk’s DOGE from accessing Americans’ sensitive data – CBS News Watch CBS News Elon Musk and his team of cost-cutters at the Department of Government Efficiency have found their next target, the Consumer Financial Protection Bureau. But security concerns about their actions – and access – to other agencies have prompted new…
President Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden Administrator holdover. Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since Mr. Trump took office on Jan. 20. In a letter to the…
The director of the Consumer Financial Protection Bureau, Rohit Chopra, was fired on Saturday, prematurely ending a five-year term that was scheduled to run through late 2026. “With so much power concentrated in the hands of a few, agencies like the C.F.P.B. have never been more critical,” Mr. Chopra wrote in a letter he posted…
When you scraped together enough money for the down payment, you thought you were all set to buy a house. Then you found out about closing costs. Closing costs are fees charged by the lender and other third parties that you pay when you sign the loan. While you’re signing a not-so-small hill of paperwork,…
The US watchdog for consumer finance — Consumer Financial Protection Bureau (CFPB) — has announced that it was ordering federal supervision of Google Payment Corp, the internet giant’s payment arm, a decision that the company immediately said it was challenging in the court. CFBP said that it’s claiming supervisory authority over Google Payment Corp., as…
Elon Musk and Vivek Ramaswamy, who President-Elect Donald Trump has named as co-leaders of the proposed Department of Government Efficiency (DOGE), are meeting with lawmakers on Capitol Hill. The pair have said they plan to cut $2 trillion in government spending, eliminate entire departments like the Consumer Financial Protection Bureau (CFPB), and address other inefficiencies….
Bank stocks popped after former President Donald Trump secured a second term in the White House. The financial select sector SPDR fund (XLF) rose more than 6% in intraday trading on Wednesday, with names like JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), and Goldman Sachs (GS) gaining. KBW managing director David Konrad…