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Financial watchdog likely to regain teeth under Biden

Financial watchdog likely to regain teeth under Biden

Congress as well as the federal government put up the buyer Financial Protection Bureau as being a customer advocate and industry watchdog within the wake associated with the 2008 financial meltdown. The agency’s become a better friend to the financial industry under the Trump administration.

Whomever President-elect Joe Biden chooses to guide the agency will have some rebuilding to complete.

The CFPB roared from the gate along with a tremendous effect, stated Ashley Harrington during the Center for Responsible Lending.

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“We saw $12 billion came back to 30 million harmed customers,” Harrington stated.