- 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.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
