President Donald Trump has said it more than once—the Consumer Financial Protection Bureau is no more. Calling it “the ultra-left CFPB,” Trump said he moved to shut down the agency after receiving calls from bankers and loan officers who were “almost crying” over its regulations.
Vincent Mortier, chief investment officer of Amundi, which manages 2.2 trillion euros ($2.312 trillion) in assets, called the move “a big, big mistake” in an interview with the Financial Times, saying that the proper functioning of U.S. markets depends fundamentally on trust from investors.
The retreat from diversity, equity, and inclusion (DEI) initiatives continues to gain momentum, with consulting firms increasingly joining the exodus. The latest to follow suit is consulting giant KPMG US,
The plaintiffs argued that the president’s edicts against diversity, equity and inclusion initiatives exceeded his authority and violate their constitutional right to due process.