There’s a really good argument to be made for the incoming Trump administration to suspend enforcement of any recent rules and regulations put in place by the outgoing Biden administration. I will leave the meaning of “recent” open as an exercise for readers, but personally, I’d be okay with defining it as “within the last four years.”
Case in point: the brainchild of Senator Elizabeth Warren (D-MA), the Consumer Financial Protection Bureau (CFPB), an organization notorious for not only behavioral problems by its leadership but also rampant overstepping in its portfolio of responsibilities. The CFPD reports to no one, and seems to reckon itself above the pale; in their latest such overstep, they have unilaterally decided that payment apps (like Paypal, Google Pay, etc.) and digital wallets shall be regulated as banks.
Predictably, they’re being sued….
