CFPB Halts Monitoring for Apple, US Bank, Signalling Policy Shift

CFPB Halts Monitoring for Apple, US Bank, Signalling Policy Shift

The Consumer Financial Protection Bureau (CFPB) has recently initiated a significant shift in its regulatory approach, notably bringing an early end to its monitoring agreements with prominent companies like Apple and U.S. Bank. These terminations are part of a broader trend where the agency is scaling back oversight that was initially set to continue for several years. This move signals a potentially evolving landscape in financial regulation, impacting how consumer protection is enforced across various sectors. The settlements in question were originally established during the Biden administration. In both cases, Apple and U.S. Bank reportedly fulfilled their obligations by paying the full civil money penalties included in their respective agreements. The Reuters news agency, citing court filings from earlier this month, first brought attention to these developments on Tuesday, September 23rd. Details of the Terminated Settlements The settlement involving Apple, which also implicated G…