CFPB to focus less on imposing penalties on companies, WSJ reports

Russ Vought is pictured before a meeting in the Dirksen Senate Office Building on Capitol Hill in Washington

WASHINGTON (Reuters) – Consumer Financial Protection Bureau Acting Director Russ Vought said on Wednesday the bureau will focus on redressing “tangible harm” by getting money back directly to consumers rather than imposing penalties on companies, according to a memo posted by a Wall Street Journal reporter on X.

(Reporting by Jasper Ward)