In testimony before the House Financial Services Committee and the Senate Banking Committee, CFPB Director Rohit Chopra prioritized (i) stimulating competition in the consumer financial markets, (ii) action against repeat offenders of agency and court orders, and (iii) restoring relationship banking to protect consumers "in an era of big data."
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SIFMA expressed "serious concerns" about the "operational and practicability issues" in FINRA's proposal to establish margin requirements for transactions in the "to-be-announced" market.