The Consumer Financial Protection Bureau (CFPB) shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
The CFPB published a final rule to rescind the rule that created the registry in the Federal Register on Wednesday. In the document, the agency points to costs and administrative burdens as the reasons for the withdrawal of the rule.
