Yahoo Finance
WASHINGTON, August 4 (Reuters) - A top supervision examiner at the U.S.
Consumer Financial Protection Bureau warned staff they would face "most unpleasant" consequences if they were too aggressive in their oversight of financial firms, according to an internal email reviewed by Reuters.
The threat, which Reuters is reporting for the first time, was emailed on May 13 by Chief Examiner Fatima Batie to many of the agency's mid-level supervision staff as they were preparing to resume inspections of financial firms following a long hiatus, according to the email and two people familiar with the matter.
Critics say the message amounts to a threat to CFPB staff that would likely make them think twice about how they interact with companies they oversee.
It also underscores how Republican President Donald Trump's administration has reoriented the CFPB's supervisory work, and reflects a broader regulatory retreat from oversight of the finance sector that his appointees say had become overly burdensome, constraining lending and economic growth.
Representatives for the CFPB and the White House did not respond to requests for comment.
Batie did not respond to emails and a message seeking comment.
Efforts to reach her by phone were unsuccessful.
Russell Vought, the CFPB's former interim director, told lawmakers last month that the agency has recalibrated its approach to supervision with the aim of doing "as little damage as possible." He added: "That doesn't mean we're taking an approach to do...as little as possible.
We're sticking to the law." Under Vought, agency leadership has accused staff of "thuggery" in dealing with the companies they oversee.
He suspended examinations, along with all other work, upon taking control in early 2025 ahead of a bid to slash the CFPB workforce, which has so far been blocked by the courts.
Vought was due to step down last week as acting CFPB chief.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment