President-elect Donald Trump and Republicans in Congress are weighing vast changes to the Consumer Financial Protection Bureau, seeking to limit the powers and funding of a federal watchdog agency formed in the wake of the 2008 banking crisis. On Capitol Hill, meanwhile, Republican lawmakers have suggested they’ll pursue their own legislative overhaul targeting the bureau. Already, some major financial industry lobbying groups are encouraging the incoming administration — and the new Republican majority in Congress — to use the transfer of power to advance significant changes to the CFPB. AdvertisementBut some of Trump’s former aides have taken the opposite tack, even suggesting that Congress should eliminate the CFPB. Trump previously has tried to distance himself from Project 2025, though he’s named several of its authors and contributors to his incoming administration.

Source: Washington Post November 24, 2024 06:31 UTC