- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-03-15T20:56:00
The Consumer Financial Protection Bureau reversed a Trump administration policy on how it assesses and punishes abusive practices in the financial services industry.
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No federal agency is truly immune from politics—even the ones that are supposed to be independent. That is what’s playing out at the PCAOB and CFPB as Democrats utilize similar tactics coined by their Republican counterparts.
A Senate committee Wednesday voted in favor of President Joe Biden’s nomination of Gary Gensler to lead the SEC but deadlocked on his choice of Rohit Chopra (pictured) to helm the CFPB.
Rohit Chopra’s nomination to lead the CFPB represents a full-throated return to the combative consumer protection agency under former director Richard Cordray, experts say.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
