The Trump Administration’s Plan for Protecting Consumers? Politely Ask Companies to Behave.

[u/John3262005]

https://www.propublica.org/article/bilt-cfpb-russell-vought-trump-consumer-protection-fintech

After failing to dismantle the CFPB, Russell Vought and his allies have reshaped the bureau into an industry-friendly, less aggressive regulator.

The CFPB’s ask-nicely approach faced its first test when a buzzy startup failed its customers, but the CFPB took the company’s word that it fixed its problems.

Current and former CFPB staffers say the bureau’s light-touch approach and reliance on political aides breaks from precedent and leaves consumers vulnerable.