The nations consumer watchdog is signaling a more aggressive approach toward the financial services sectors after a few years of being on a tight leash. Under President Biden, the Consumer Financial Protection Bureau has rescinded or scaled back a number of policies put in place by the Trump administration. And the bureau is staffing up in anticipation of taking a more active role in regulation and enforcement, as it did during the Obama administration. Under acting director Dave Uejio, the CFPB has broadened the scope of what it considers abusive behavior by the financial services industry and taken steps to enforce a government moratorium on evictions.
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The recovery of Americas job market hit a pause last month as many businesses from restaurants and hotels to factories and construction companies struggled to find enough workers to catch up with a rapidly strengthening economic rebound. Employers added just 266,000 jobs in April, sharply lower than in March and far fewer than economists had expected. With viral cases declining and states and localities easing restrictions, the recovery from the pandemic recession has been so fast that many businesses have been caught flatfooted in the face of surging consumer demand.