Regulatory News

In a further sign of the Trump government's intention to reduce market regulations, the US Department of Justice is questioning the role of the Consumer Financial Protection Agency (CFBP), a body created after the 2008 global crisis triggered by the subprime mortgage collapse.

The Justice Department argues that the structure of the CFBP ignores the authority of the US president to replace the head of the agency. "There is a serious risk that an 'independent' agency led by only one person will deviate from the president's executive policy," a statement from the Department said.

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