The Reg E Reader

Since President Trump took office, the administration has substantially curtailed the Consumer Financial Protection Bureau’s (Bureau) rulemaking and enforcement activity. 

Since 2010, the CFPB has been the primary enforcer of the federal consumer protection laws, recovering over $20 billion for American consumers

As the new Trump administration implements its deregulatory agenda, work at the CFPB has been brought to a halt, at least temporarily. On February 8, acting Director Russell Vought sent an email memorandum to Bureau personnel to stop all work.

The US Supreme Court dealt a near-fatal blow last year to the Securities and Exchange Commission’s already weakened administrative law judge program. The expected return of Paul Atkins as SEC chairman will likely weaken the ALJ program even further, relegating the in-house judges to the fringe of any enforcement activities.