Skip to Primary Navigation

Skip to main content

House votes to gut two consumer protection rules

Image of signs in a rally to preserve the CFPB as a US consumer-protection agency.
Photo: Alex Wong/Getty Images

Julie DiMauro

1 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

These legislative efforts coincide with President Trump’s moves to shrink the federal government.

The US House of Representatives has voted to scrap two consumer finance rules adopted under former President Joe Biden. Those rules capped bank overdraft fees and gave officials the power to supervise the legal compliance of tech companies’ digital wallets and payment apps.

Similar resolutions have already passed the US

, , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience