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He’s Baack: Trump Appointee Who Quit Consumer Watchdog Agency After Racial Backlash Gets New Government Job at HUD
Apparently, when it comes to the Trump administration, a racially charged past is no bar to being able to stay employed from one post to another. Such seems to be the case with Donald Trump appointee Eric Blankenstein, Politico reports. Just weeks following his quitting his job enforcing fair lending practices for the Consumer Financial…
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Mike Pence Casts Tie-Breaking Vote to Remove an Important Consumer Financial Protection Bureau Rule
Late Tuesday evening, the U.S. Senate voted to repeal an Obama-era rule that provided consumer protections against banks and credit card companies by preventing them from using forced settlements to resolve disputes with customers. The vote on the Senate floor was 50-50, with The Hill reporting that Republican Sens. Lindsey Graham of South Carolina and…
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Wells Fargo CEO Blames Low-Level Employees for Bank’s Recent Troubles
Wells Fargo is embroiled in a multimillion-dollar banking-fraud scandal stemming from its aggressive cross-selling tactics, and CEO John Stumpf blames low-level bank employees for the trouble. According to the Consumer Financial Protection Bureau, Wells Fargo has sought to distinguish itself as a leader in cross-selling banking products to existing customers. That, coupled with the bank’s own…