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House Budget Committee to weigh plan to chop US CFPB funding, end independent PCAOB

By Neil Roland ( May 1, 2025, 22:30 GMT | Insight) -- The Republican-controlled House Budget Committee will consider a fiscal 2025 tax-and-spending plan that slashes funding for the US Consumer Protection Bureau by 70 percent and dismantles the independent Public Company Accounting Oversight Board. The authority of the 23-year-old PCAOB, created in the wake of the Enron and WorldCom scandals, would be transferred to the US Securities and Exchange Commission, whose personnel and funding have been cut by 10 percent to 12 percent. The House Financial Services Committee approved the CFPB and PCAOB plans last night.The Republican-controlled House Budget Committee will consider a fiscal 2025 tax-and-spending plan that slashes funding for the US Consumer Protection Bureau by 70 percent and dismantles the independent Public Company Accounting Oversight Board....

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