The Consumer Financial Protection Bureau's structure is an infringement on the authority of the executive branch, a New York federal judge said Thursday.
A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space.
The plan would end the GSE conservatorships and create an explicit federal guarantee, but it's unclear if even other parts of the Trump administration support it.
The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.
The acting agency chief defended the “zero tolerance” policy while praising the permanent CFPB nominee suspected of having been involved in implementing it.
Courts have validated the legal theory behind punishing lenders for unintentional discrimination, but the Trump administration has shown interest in revising the Obama-era policy.
