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ARTICLE · 25 NOVEMBER 2024

Consumer Finance – Quick Takes On Potential Changes Under The New Trump Administration

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Pundits and pontificators have been looking for any sign or indication as to how (and when) the new Trump administration will come into shape with respect to the consumer...

United StatesConsumer Protection
Christina Grigorian
Christina Grigorian
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Pundits and pontificators have been looking for any sign or indication as to how (and when) the new Trump administration will come into shape with respect to the consumer financial services sector. While only broad outlines of a new (and pronouncedly populist) agenda have begun to take shape, we offer insights below concerning areas of most significant importance to those that provide products and services to consumers and are thus "covered persons" subject to supervision and/or enforcement by the Consumer Financial Protection Bureau (CFPB).

The Agency's Director

As of the date of this publication, it is not yet clear as to whether current CFPB Director Rohit Chopra will resign or instead choose to be fired by then-President Trump on January 20. (Notably, Martin Gruenberg, the Chairman of the Federal Deposit Insurance Corporation, announced on November 19 that he would resign on January 19, 2025.) Although there is no official "short list" that has been dropped

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