Consumer Bureau’s Bank Examiners Criticize New ‘Humility Pledge’
NegativeFinancial Markets

- The Consumer Financial Protection Bureau (CFPB) announced a new requirement for bank examiners to take a 'humility pledge' to collaborate with companies before initiating reviews. This move has been described by the CFPB as part of its supervisory approach under the Biden administration, which has been characterized as a 'weaponized arm' of the agency.
- This development raises concerns about the CFPB's approach to oversight, as critics argue that the pledge may undermine the agency's ability to enforce regulations effectively. The implications of this shift could affect the relationship between the CFPB and financial institutions, potentially altering how compliance is monitored.
— via World Pulse Now AI Editorial System

