The FTC and CFPB released agency-specific action statements on increasing tech capacity, including actively hiring technologists, to "help enforce the laws on the book and design remedies that work for consumers, workers, small businesses, and others in the digital era."
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CFPB Director Rohit Chopra decried the trend toward bank consolidation and proposed reforms to bank merger policy.
The Public Company Accounting Oversight Board sanctioned three partners of a China-based audit firm for audit failures that preceded a significant restatement of a company's reported revenue and net accounts receivable.
The Public Company Accounting Oversight Board sanctioned an audit firm and its owner for multiple violations of PCAOB rules and standards related to inadequate audit evidence, failure in engagement quality reviews and non-compliance with reporting requirements and quality control standards.
CFPB Director Rohit Chopra warned that anti-competitive behavior by industry participants will not be allowed to impede the CFPB's required shift to open banking.