The CFPB terminated its 2023 consent order against U.S. Bank, which required five years of ongoing agency monitoring and compliance. In December 2023, the CFPB ordered U.S. Bank to pay $5.7 million as redress to affected consumers for freezing unemployment benefits for ReliaCard holders during the COVID-19 pandemic.

The CFPB terminated its 2024 consent order against Apple, which required five years of ongoing agency monitoring and compliance. In October 2024, the CFPB fined Apple $25 million over its Apple Card program for failing to pass consumer dispute claims correctly to its partner bank (Goldman Sachs).

The CFTC launched an initiative for the use of tokenized collateral including stablecoins in derivatives markets. The use of stablecoins, which themselves are collateralized with risky assets, as collateral themselves will endanger investors and markets.

The SEC approved generic listing standards for crypto exchange-traded products (ETPs). Novela and untested crypto products will be able to come to market without SEC review or approval.

The SEC issued a policy statement saying it is permissible for issuers to require investors to arbitrate disputes. Companies may prevent investors from going to court and from filing class actions to redress corporate misconduct.

Read Better Markets’ statement: SEC Allowing Corporations to Force Harmed Investors into Biased Arbitration Star Chambers Is Wrong 

Despite significant opposition from Senate Democrats and questions about political independence and qualifications, Stephen Miran was confirmed as a Fed Governor. The confirmation was done in record time, because Trump wanted Miran in his seat at the Fed in time for the Sept. 17-18, 2025 FOMC meeting.

[As detailed in Better Markets’ statement following the confirmation] a Trump-controlled Fed will make short-term political decisions to benefit Trump, not the tens of millions of hardworking Americans who depend on the Fed to make data-driven decisions to keep prices under control while maximizing employment. With Americans already paying higher prices due to his trade war and economic chaos, a Trump-controlled Fed will just make life more unaffordable for Main Street Americans. While it can create a short-term sugar high with lower near-term interest rates that will benefit Wall Street and the already rich, a Trump-controlled Fed making economic decisions based on politics risks igniting runaway inflation and even stagflation, which will crush paychecks and decimate the budgets of Main Street families.