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The future of the Consumer Financial Protection Bureau (CFPB) is uncertain, raising concerns about the potential rollback of key regulations. Proposed rules, including an $8 cap on credit card late fees and measures to limit medical debt reporting on credit reports, are now in jeopardy. Critics argue that these changes could adversely affect consumer access to credit and banking services. The abrupt changes have left financial firms and consumers in a state of limbo, as the CFPB's role as a regulatory watchdog comes into question.
The Consumer Financial Protection Bureau’s future is unclear, leaving some key rules like an $8 cap on credit-card late fees and a proposed rule on selling customer data in doubt https://t.co/KWrFk9GO7H via @WSJ
What’s happening to the US CFPB? What’s in store for #America’s consumer financial services watchdog agency – the Consumer Financial Protection Bureau (#CFPB)? Nobody really knows. https://t.co/ZehBau3HGK #USA #government #regulation #OpenBanking #OpenFinance #dataprotection
A consumer financial watchdog’s future is unclear, leaving some key rules like an $8 cap on credit-card late fees and a proposed rule on selling customer data in doubt https://t.co/spw3H3lUsW