The former World Bank president, David Malpppe, called for President Donald Trump to reduce interest rates in Jodello.
In Consumer Financial Support Office (CFPB) moved forward on Thursday with extensive firing in the agency as the Trump administration is seeking to rebuild the consumer implementation agency.
A source familiar with the process told Fox Business that more than 1,500 workers in the CFPB receive reduced declarations. Fired throughout the main CFPB functions, including Supervision of financial institutions And the arm of its implementation
After the job is reduced, the CFPB will have a little over 200 the remaining staff for the Agency's supervisory activities.
In Wall Street Journal reported On Wednesday, a letter from the senior legal manager of the agency, Mark Paulta, was sent to CFPB employees, which uses its efforts to “use tangible harm to consumers” using resources from governments.
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Symptoms are found in the Consumer Support Headquarters (CFPB) in Washington, DC, the United States, May 14, 2021. Reuters/Andrew Kelly (Reuters / Andrew Kelly / Reuters)
The note states that the CFPB monitoring arm reduces the number of “events” or regulatory exams by 50 %, focusing on “reconciliation, correction and correction of the disadvantages of consumer complaints”.
CFPB also concentrates its concentration instead of illegal institutions, primarily to deposit institutions, and when 70 % of CFPB supervision returns to 2012 composition in 2012 Banks and institutions of deposit And 30 % in non -banking. The compound is currently “completely” with more than 60 % in non -banking and less than 40 % in banks and deposit institutions.
The note states that CFPB intends to focus its anti -fraud efforts in areas where “materials” and measurable Consumer damage Unlike the issues based on the office's understanding that consumers have made “wrong” choices. ”
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Russell vough is the CFPB actress manager. (Photo by Andrew Harnic / Giti Images / Giti Pictures)
Loans receive the highest priority and followed by providing data violations, Consumer contracts And debt, extra costs and fraud costs as well as inadequate controls to protect consumer information.
In addition, new CFPB priorities see the agency from areas where state regulators have significant authority, unless it is required by law, while also eliminating repetitive regulatory functions that other federal agencies are eligible.
The note states that the CFPB “will not oversee new legal theories” and “focuses on areas that are clearly legally owned”.
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Activists have protested the decline in the Trump administration in agencies such as the CFPB. (Alex Wong / Getty Pictures / Giti Pictures)
The areas that are humiliated in the CFPB include other loans of “” Justice involved “(criminals)” as well as medical debt, peer operating systems to peers and loans. Student loanRemittances, consumer data, along with digital payments, in each note.
The CFPB is currently led by Russell CEO, he is also the head of the Office of Management and Budget (OB).
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Jonathan McCeren has been named CFPB manager, although his nomination has not yet been addressed by the Senate. McCeren was previously a member of the board of directors of the Federal Deposit Insurance Company (FDIC).