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[james.hendrickson]

The new bill cut the budget for the Consumer Financial Protection Bureau by about half. That will greatly reduce their ability to address financial malfeasance and abusive practices.

Great point, the Trump administration has been focused on making cuts. I would also point out to the board that there are state regulators in all 50 states that handle financial malfeasance.

[ua_guy]

The new bill cut the budget for the Consumer Financial Protection Bureau by about half. That will greatly reduce their ability to address financial malfeasance and abusive practices.

Not only were staff cut, all pending CFPB litigation and investigations, pending rulings, were cancelled. The CFPB was saving consumers almost $22 Billion per year in financial misfeasance due to predatory practices.

You know this, but it's apparent some here don't. It's not business-friendly for companies to have to follow 50 different sets of rules in 50 different states. Consistency in regulation is important for corporations that operate nationally and that's where FTC and CFPB can make a great impact.