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Fed’s Barr says besieged US CFPB an `important part of overall picture’

By Neil Roland ( February 18, 2025, 22:21 GMT | Insight) -- Michael Barr, who is stepping down as the US Federal Reserve’s vice chair of supervision and regulation at the end of the month, defended the US Consumer Financial Protection Bureau as “an important part of the overall picture.” “It’s really important that we have significant oversight of the financial sector for both safety and soundness, and for consumer protection,” said Barr, who is staying on as a Fed governor. His term ends in 2032.Michael Barr, who is stepping down as the US Federal Reserve’s vice chair of supervision and regulation at the end of the month, defended the US Consumer Financial Protection Bureau as “an important part of the overall picture.”...

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