FSOC holds its first meeting of the new administration, but only an executive session, and did not focus the discussion on the most important topics.

The FSOC is one of the most important, if low profile, financial regulatory agencies charged with protecting the country from financial crashes and taxpayer bailouts. The good news is that it met. The bad news is that it has the wrong priorities and, rather than protect the American people, it is likely going to endanger them.

Read Better Markets’ statement here.

Read Better Markets’ statement: Trump’s Lawless Firing of the FTC’s Democratic Commissioners and Likely Similar Actions Threatens the Economy and All Americans 

The SEC extended the deadline for funds whose names suggest a focus on the ESG factors to invest 80% of their assets in the type of investment their names suggest. The extension means greenwashing—where funds exaggerate the extent to which they use the ESG factors in their investments—will continue to persist.

The SEC issued a no-action letter that will allow accredited investors to self-certify their ability to participate in private securities offerings. Individuals now may certify that they are able to participate in private securities offerings even though they may not have the resources to determine which companies to invest in or to absorb the losses that may occur.

New CFPB leadership shuts down DEI programs and affinity groups within CFPB, undermining staff morale and inclusiveness.

The CFPB signals that it will continue certain enforcement actions—so far, especially those involving servicemembers and claims under the Military Lending Act.