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Cara Petersen left her position of acting director at the Consumer Protection Office (CFPB)Using her farewell message that she sharply criticizes Trump’s administration.
IN E -Shill Reuters reviewed on June 10Petersen stated that The recent decisions of the agency leadership made it difficult for the office to fulfill its fundamental duties.
Petersen described plans to reduce staff by about 90%, which she said would prevent the Agency from monitoring financial services and protection of consumers properly. She noticed that Case closure, rejected settlements and a decrease in staff weakened the work load of office.
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E -mail states that recent changes are part of a bigger trend in which laws are not implemented properly. She compared the situation to the way Trump’s administration treated trade tariffs, which is why many American crypto mining companies are uncertain about their future because of the vague decisions of politics.
Stated that President Donald Trump “There is no intention of implementing the law in any meaningful way‘
The CFPB was founded after the 2008 financial crisis to prevent financial companies from using their customers. It was necessary to help with problems involving loans, credit cards and other money -related products.
He also studies complaints about cryptocurrency platforms. As a result, the weaker CFPB could mean less supervision in the industry, even because frauds and fraud still affect users.
On May 29, Elon Musk resigned from the Government Efficiency Department (Doge), an initiative of a white house aimed at reducing federal consumption and reduction in jobs. What happened? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.