In this Dec 11, 2018, file photo, Consumer Financial Protection Bureau Director Kathy Kraninger pauses as she speaks to media at the CFPB offices in Washington. NEW YORK: The nation's consumer watchdog is signalling a more aggressive approach toward the financial services sectors after a few years of being on a tight leash.
The bureau also rescinded several measures put into place by the Trump administration during the early days of the coronavirus pandemic. Many of these directives were designed to give banks flexibility - particularly when it came to record-keeping as the entire industry shifted to working remotely. But consumer advocates argue that the banking industry has had a full year to adjust at this point, and consumers deserve accurate records no matter what.
The CFPB had never held any authority over renters or rent collection previously, and the change was welcomed by poverty and consumer advocates. A CFPB spokesperson said Uejio’s actions “have reflected the urgency of the crises our nation is facing,” adding that moving slowly “would further put American families in harm’s way.”
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