“It is clear that the Trump Administration wants to clear the way for financial service firms and banks to operate with more freedom and without the regulative restraints that were set up since the last financial crisis in order to curtail the bad actors,” Hopkins said. “This could also mean trouble for the Consumer Financial Protection Bureau moving forward as it was created in Dodd-Frank, and has suffered some serious legal setbacks as of late. If key parts of the rule are removed, the CFPB might no longer fit the regulatory framework of what is needed.”

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