Biden team lays groundwork to reverse Trump-era banking policies
The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.
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The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.
The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.
The odds are better now that Congress will pass a bill to help financial institutions serve cannabis businesses, but the question of the legislative path forward has grown murkier.
If he’s confirmed as director of the Consumer Financial Protection Bureau, Rohit Chopra is expected to move quickly to undo Trump policies and address the pandemic’s impact on consumers. Some experts say he may even get the job on an interim basis before Congress acts.
The National Credit Union Administration and the Consumer Financial Protection Bureau will hold strategy sessions and share information tied to consumer protections at institutions with more than $10 billion of assets.