Consumer finance bureau ‘out of control’ under Biden’s

After one of the federal government’s most powerful bureaucrats warned he would be “reining in repeat offenders,” the nation’s largest business group wants to rein in his powers. 

The U.S. Chamber of Commerce launched a six-figure digital ad campaign in late June targeting Rohit Chopra, director of the Consumer Finance Protection Bureau (CFPB), appointed by President Biden in 2021 and confirmed without a single Republican vote. 

As head of the consumer finance bureau, he is a board member of the Federal Deposit Insurance Corporation. Before leading the CFPB, Chopra aggressively pushed regulations as a

Finance Director Keely Bosler to Depart, New Finance

SACRAMENTO – Governor Gavin Newsom today announced the appointment of Joe Stephenshaw as Director of the California Department of Finance, filling the role held by Keely Martin Bosler since 2018.

“Throughout unprecedented challenges and opportunities, Keely has expertly steered the state’s finances with a commitment to expanding opportunity, improving the lives of Californians and maintaining a solid fiscal foundation,” said Governor Newsom. “Confronted with the pandemic-driven economic crisis, Keely led our work to provide historic relief to get Californians back on their feet and lay the groundwork for our recovery, all while moving the state forward on key priorities

Chamber targets consumer bureau chief for ‘reckless actions’

The group’s litigation arm sent two letters to Chopra objecting to that amended exam manual and other “imprudent and unlawful actions,” including an update to the bureau’s rules that could make it easier for the agency to pursue enforcement actions outside of federal court.

“Chopra is laying the groundwork to force the financial services sector to comport with his personal vision of the appropriate size of companies and what products and services should be offered and under what conditions,” Neil Bradley, executive vice president and chief policy officer at the Chamber, said in a statement.

“No previous CFPB Director has

U.S. Chamber of Commerce Launches Campaign to Rein In

Washington, D.C. – The U.S. Chamber of Commerce today launched an extensive campaign to expose and defeat Consumer Finance Protection Bureau (CFPB) Director Rohit Chopra’s ideologically driven agenda to radically change the nature of America’s financial services industry. If allowed to proceed, his agenda would harm consumer choice and innovation.

In various speeches, Director Chopra has outlined extreme and inaccurate views around the state of our financial system regulations. He has:

  • Described “repeat offenses” as “par for the course for many dominant firms.”
  • Stated that financial regulators were “…clueless and often corrupt lawyers and economists…often seen as auditioning for a

Rapid City’s Pauline Sumption Named Finance Officer of the

Rapid City’s Sumption Named Finance Officer of the Year

Pauline Sumption, Finance Director for the City of Rapid City, was named Finance Officer of the Year earlier this month by the South Dakota Governmental Finance Officers’ Association.

          The award is given each year to a member of the association who has made significant contributions to their municipality as a finance officer and their community as citizen. 

          Sumption was recognized for her experience, strong leadership, and expertise of a wide variety of subject matter. As the city’s finance director for the past 12 years, her insights are highly respected and sought

Wausau finance director suggests referendum regarding use of

Wausau Finance Director MaryAnne Groat is suggesting a referendum to determine the best use of contaminated property eyed as a potential site for a new facility maintenance shop despite the majority of the council already removing it from consideration.

The suggestion came on the heels of a statement by Dist. 7 Alder Lisa Rasmussen who said she wants to bring the property, at 1300 Cleveland Ave., back into the mix of potential sites for the Dept. of Public Works project.

“At what point do we allow one or two people to drive the bus?” Rasmussen said, during a June 22

Deputy Director Zixta Martinez’s Prepared Remarks at the

Today, I will focus my remarks on the more general need to increase access to affordable payments, credit, and other financial products and services. One of the most significant drivers leading us to double down on our efforts to broaden access is the expansion of electronic payments. Electronic payments are quickly supplanting cash and are now an essential part of the economy. Their increasing omnipresence came into full view during the pandemic as the un- and under-banked faced considerable challenges making purchases and receiving payments, including the Economic Impact Payments.

Banks Role in Supporting Access

Banks have both an obligatory