President Trump has signed two rollbacks of financial regulations established during the Biden administration. The first rule, which aimed to cap overdraft fees charged by banks and credit unions, was opposed by the banking industry and Republicans. The second rule sought to increase oversight of digital wallets and payment apps, bringing companies like Apple, Google, and Amazon under the Consumer Financial Protection Bureau’s supervision. Critics argue these rules would have limited consumer choice and stifled innovation. The rollbacks reflect the Trump administration’s broader approach to reducing regulatory burdens on businesses.
— new from The Hill
