The CFPB's post-election rulemaking efforts, and Mr. Chopra's own decision to stay at the agency past the start of the new Administration, were emblematic of a regulator that believed his view of good public policy trumped the decision of voters. (See also, ; .)

This is less a story about securities markets than it is a story about the movement of financial and commercial centers away from New York, Illinois and California to Texas and Florida. (See , (the story also mentions the geographic shifts).) Expect this trend to continue.

One may reasonably argue that the massive customer losses resulting from the FTX fraud might have been averted (or at least materially reduced) had investors been able to custody their crypto assets with banks.  

Comptroller Hsu was a proponent of policies supporting DEI and climate risk regulation of banks (). He also emphasized perceived risks of crypto (). The transition from Mr. Hsu to Mr. Hood will have significant policy consequences.