Less than two weeks from taking over the Oval Office, Donald Trump and his administration vowed to cut the vast majority of business regulations – a measure that would likely lead to the demise of the Consumer Financial Protection Bureau (CFPB), the watchdog agency designed to protect U.S. consumers from the kinds of predatory lending practices that precipitated the 2008 financial crisis and housing crisis. The CFPB was designed by consumer advocates to be an autonomous agency, free from the grip of special interests that often influence Congress. Because it is funded by the Federal Reserve, the bureau does not ... Read More
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