Fewer FDIC staff to supervise banks (now and in the future), manage the deposit insurance fund, conduct resolution of failed banks, and protect consumers will directly lead to a banking system that is weaker and less safe. A shortage of trained and experienced examiners was found to be a key cause of the 2023 bank failures. This decision will hurt the agency and banking system now and for years to come because the examiner pipeline will be empty.

OPM issued another memo to federal agencies directing them to “separate” – or fire – certain probationary employees by the end of the day on February 17.

The SEC rescinded Staff Legal Bulletin 14L, which had made it harder for companies to exclude shareholder proposals. The guidance silences investors who want to influence corporate governance on matters of social importance, such as ESG.

New CFPB leadership signals its intent to dismantle the CFPB by large-scale reductions in work force.

The SEC approved a national securities exchange’s proposal to extend trading hours to 22 hours a day, five days a week. The approval means that stock exchanges will become more like casinos. Retail investors will be induced to engage in risky behavior in the middle of the night. Retail investors will also be induced to trade when there is little liquidity and worse prices.

Read Better Markets’ statement: SEC’s Approval of Overnight Trading Will Make the Gambling Addiction Epidemic Worse and Harm Retail Investors

The SEC issued guidance making it harder for owners/investors such as large index funds to engage with companies. The guidance prevents investors from advocating for better management and increased transparency on issues like executive compensation and ESG practices.