Slimmed-Down CFPB Scales Back Regulatory Priorities, Shifts Focus Back to Big Banks
The big picture: The Consumer Financial Protection Bureau has reprioritized its focus amid political scrutiny. Reduced examinations: The CFPB will cut examinations by 50% and focus on depositary institutions. Certain products offered by non-bank institutions will be deprioritized. Focus on identifiable harm: The Bureau will concentrate on remediation of “tangible harm,” prioritizing redress to consumers. […]
