Post B0auauROPvb05RdKQC by lauerhahn@sfba.social
 (DIR) More posts by lauerhahn@sfba.social
 (DIR) Post #B0asvRD45pSDbKanxo by Nonilex@masto.ai
       2025-11-25T05:18:00Z
       
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       This is a super freaking weird way of undermining #corporate #accountability.#Banking is one of the US’ most tightly regulated industries, & confidential bank examinations carried out by independent federal regulators are a core guardrail for protecting the safety & soundness of the financial system.#RussVought, #Trump #OMB director, is not a fan of how the #CFPB, where he is acting director, has carried out those exams.#law #corruption #oversight #Project2025 https://www.nytimes.com/2025/11/24/business/consumer-bureau-humility-pledge.html?smid=nytcore-ios-share
       
 (DIR) Post #B0at6egsJPFwb2svQ0 by Nonilex@masto.ai
       2025-11-25T05:20:06Z
       
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       On Friday, the #CFPB said it would now require its #financial examiners to recite a “humility pledge” to companies before beginning a review.“The upcoming supervision examination cycle is going to be fundamentally different from the prior ones,” the pledge begins. It then details a set of changes, including a more limited review scope & an agency commitment to “work collaboratively” with the businesses it oversees.#law #corruption #government #oversight #Project2025 #RussVought #Trump
       
 (DIR) Post #B0atI0wTvA2onJbKU4 by lawyersgunsnmoney@mstdn.social
       2025-11-25T05:22:06Z
       
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       @Nonilex That is bizarre - next they’ll do that with DCAA/DCMA
       
 (DIR) Post #B0atIOy4atZtJCWwIS by Nonilex@masto.ai
       2025-11-25T05:22:13Z
       
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       In a notice announcing the change, the #CFPB described its own supervision department as “the weaponized arm” of the agency under its #Biden-era director & said its exams had been carried out with “thuggery.”On Monday, the consumer bureau’s staff #union fired back with a statement denouncing the pledge as “creepy” & “disrespectful.”#law #corruption #government #oversight #Project2025 #RussVought #Trump
       
 (DIR) Post #B0atPJiIWorb2VRtlg by Nonilex@masto.ai
       2025-11-25T05:23:26Z
       
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       “Is this fan fiction I’m reading?” Cat Farman, a bureau employee & the president of the staff union, wrote. She added, “Instead of traumatizing #CFPB workers with his role-play fantasies, Vought should resign so we can finally do our jobs protecting Americans from #WallStreet #fraud again.”#law #corruption #government #oversight #Project2025 #RussVought #Trump
       
 (DIR) Post #B0atWa4s5MInopTHQe by Nonilex@masto.ai
       2025-11-25T05:24:47Z
       
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       The new pledge is, for now, mostly symbolic. #RussVought halted nearly all work at the #CFPB shortly after his arrival in February, & #bank examinations have not resumed. The agency’s hundreds of examiners have been told to spend their time closing out all open matters; they are currently barred from initiating new ones.#law #corruption #government #oversight #Project2025 #Trump
       
 (DIR) Post #B0atlWYfS8LjFOX9Qu by Nonilex@masto.ai
       2025-11-25T05:27:29Z
       
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       And #RussVought has refused to request money for the #CFPB from the #FederalReserve, which funds its operations. The bureau warned in court filings that it would run out of operating cash early next year.The #Trump admin is pursuing a variety of changes to give it greater sway over how #independent #financial regulators, including the Fed, oversee #WallStreet. Trump’s appointees have slashed supervision staffing & curtailed the scope of agencies’ #bank exams.#law #corruption #oversight
       
 (DIR) Post #B0atsgtxOXCDLzuQG8 by noondlyt@hellions.cloud
       2025-11-25T05:28:44Z
       
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       @Nonilex We should acknowledge that trump has made this regulatory agency impotent as opposed to destroying it, which people would not stand for. The financial industry will do what ever it wants.
       
 (DIR) Post #B0atvmMxWQsrBFwmTw by Nonilex@masto.ai
       2025-11-25T05:29:20Z
       
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       …Because exams are confidential, they can identify — &, ideally, stop — small issues that could otherwise mushroom. The #CFPB’s examiners have forced #banks & other #lenders to return hundreds of millions of dollars to #consumers for improper fees & worthless services, & helped uncover high-profile issues like #WellsFargo’s sham accounts scandal.#law #corruption #government #oversight #Project2025 #RussVought #Trump
       
 (DIR) Post #B0auauROPvb05RdKQC by lauerhahn@sfba.social
       2025-11-25T05:36:26Z
       
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       @Nonilex @Nonilex Wow. So will they also make DAs recite a "humility pledge" to work collaboratively with the accused before prosecuting a case?