Banking Dive: “The Consumer Financial Protection Bureau withdrew dozens of pieces of prior guidance Monday, according to a document published to the Federal Register on Friday. The 67 rescinded items include guidance regarding fair lending, overdraft fees, buy now, pay later firms, earned wage access programs and more, in alignment with an internal memo Chief Legal Officer Mark Paoletta sent last month. “[T]he Bureau is committed to issuing guidance only where that guidance is necessary and would reduce compliance burdens rather than increase them. Historically, the Bureau has released guidance without adequate regard for whether it would increase or decrease compliance burdens and costs. Our policy has changed,” CFPB Acting Director Russ Vought wrote Monday…”

See also The Visionary of Trump 2.0 – “…Russell Vought. Behind all the DOGE pyrotechnics, Vought—who serves as director of the Office of Management and Budget—is working methodically to advance a sophisticated ideological project decades in the making. If Musk is moving fast and breaking things, as the Silicon Valley dictum goes, Vought is taking the shattered pieces of the federal government and reassembling them into a radically new constitutional order. “I’m not going to say it’s a misdirection play, but they’re the trauma-inducing shock troops,” Steve Bannon, who worked with Vought during Trump’s first term and remains in touch with him, told me of DOGE. “Russ has got a vision. He’s not an anarchist. He’s a true believer.”