CFPB Disarray Puts Future Fintech, Bank Oversight Into Question

Less than two months ago, the Consumer Financial Protection Bureau was pumping out lawsuits against some of the world’s biggest firms, suing JPMorgan Chase & Co., Bank of America Corp. and Walmart Inc. within a single week. On Monday, the agency’s headquarters were closed, staffers were told to work from home and its website bore a broken link.

After the Trump administration swiftly defanged the agency that was created following the great financial crisis, questions are swirling about the impact on the banks, credit card companies, loan servicers and nonbank financial-technology companies it has regulatory authority to oversee. ...