Top line
Mr. Scott Bessent stops working at the Consumer Finance Protection Bureau for several months from the anti -CFPB emotions of President Donald Trump’s billionaire, including Mark Zuckerberg and Elon Musk. I ordered it. Government spending.
The Finance Secretary Scott Bessent testifies during the confirmation of the Senate Finance Committee. … (+)
CQ-Roll Call, Inc via Getty Images
Important facts
Basent, according to multiple reports, the company should e -mail if all regulatory operations and “all types of public communication” must be stopped, with the need to guarantee that the operation is consistent with Trump’s administrative orders. I told the staff of the store.
The staff has also been reported that they were instructed not to pursue execution or lawsuit.
This movement was brought to the first week of Trump, who ordered a temporary suspension with US foreigners, and after his work at the US International Development Institution on the weekend.
The suppression of the CFPB was a long -term target of the Republican Party and the technical executive after the Biden administration has looted loans and new regulations to deal with credit cards and bank fees.
Trump was dismissed on the weekend, Rochito Chopura, and appointed Bessent to take over Agency.
What did ELON MUSK say about CFPB?
The world’s most wealthy person, Elon Musk, has attacked CFPB and has joined the technology and financial giant chorus, claiming that agency has taken a forcible approach to regulations. A mask advised Trump about how to reduce the size of the federal government, “I want to delete CFPB.” Major high -tech companies and other people who offer digital fund transfer and payment wallet apps.
What did Mark Andreessen and Mark Zuckerberg say about CFPB?
Milc Andreessen and Mark Zuckerberg, a billionaire, were also attacked by agencies. Last year, he threatened to appeal to a meta last year for a claim that uses financial data in the advertising business. Zuckerberg told Joe Rogan in an interview with a podcast, “I found the theory I wanted to investigate,” and questioned whether there was a “quiet consensus” among regulatory authorities who wanted to punish the technical industry. Andrisen, who advised some members of the Trump administration, claimed in an interview with Logan that he was “fearing those who are trying to do something new with financial services.”
What did the Republican member say about CFPB?
Republicans tried to refund CFPB and praised Chopura. R-ARK. According to French Hill, Bessent states that “CFPB has been ultimately suppressed by an unpleasant institution by placing CFPB under the expenditure process, making it a supervisor committee, and providing an appropriate legal garment.” I swore on Monday. CFPB receives direct funds from the Federal Reserve, not the parliamentary spending process designed to maintain its fairness.
Important background
CFPB was founded in 2011 by the aftermath of the 2008 financial crisis by the Dodd Frankwall Street Reform and Consumer Protection Law. Trump previously tried to limit CFPB’s authority during his first term, and former member of the Diet Mick Malvanny, RS.C. Is appointed as the director of the substitute. According to New York Times, Mulvaney later sent CFPB budget requests to the federal preparation system to the federal preparation system for $ 0, ordered to freeze employment, and suspended new execution measures. Former President Joe Biden later hired Chopura, canceled his submitting behavior, and under the order of Chocopra, the institution restricted overdraft and credit card postponement fees, and eliminated medical debt from the credit report. Chopra stood at the top, so he repeatedly collided with a large bank.
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Elon Musk Homes in New Government Target: Consumer Financial Protection Bureau (forbes)
