Former officials at the Consumer Financial Protection Bureau said Elon Musk’s payment-business aspirations were driving his efforts to hobble the agency.
Category: Regulation and Deregulation of Industry
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Stocks Drop After Hotter Than Expected Inflation Reading
Investors are now betting that the Federal Reserve will cut interest rates just once more this year, a drastic shift in expectations since late 2024.
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California’s FAIR Plan Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
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What to Know About the Anti-Bribery Law Trump Is Targeting
Federal prosecutors and securities regulators have gone after large companies for violations of the Foreign Corrupt Practices Act, which prohibits them from bribing foreign officials.
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As Trump Attacks D.E.I., Wall Street Worries
Goldman Sachs will drop a demand that corporate boards of directors include women and members of minority groups as financial firms backpedal from D.E.I. promises.
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5 Notes from the Big Paris A.I. Summit
At times, Kevin Roose writes, it feels like he is watching policymakers on horseback trying to install seatbelts on a passing Lamborghini.
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At A.I. Summit in Paris, a Push for Innovation Before Regulation
Europe wants to be a top contender in the race to become a world leader in artificial intelligence, but investors are concerned that it has too much red tape and that its taxes are too high.
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36 Hours After Russell Vought Took Over Consumer Bureau, He Shut Its Operations
The agency had been one of Wall Street’s most feared regulators, with the power to issue rules on mortgages, credit cards, student loans and other areas affecting Americans’ financial lives.
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Russell Vought Orders Consumer Protection Bureau’s Headquarters Closed for a Week
The order to shutter the agency’s headquarters follows another order issued Saturday by Mr. Vought, who also leads the Office of Management and Budget, telling agency employees to halt nearly all their work.
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Trump’s Blueprint for Bending the Media Has Nixon Written All Over It
The president’s heavy-handed approach to traditional journalists has the hallmarks of an attempted crackdown 50 years ago.
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Federal Financial Watchdog Ordered to Cease Activity
In an email to staff of the Consumer Financial Protection Bureau, the agency’s acting director ordered workers to cease “all supervision and examination activity.”
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Solid Labor Market Gives Fed Cover to Extend Rate Pause
The central bank is grappling with how quickly to lower interest rates after pausing cuts last month.