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RT @robblackwellAB: I did not have the good fortune of working with Mary Cummings de Wet, the managing editor of @AmerBanker, formerly of @….

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Atkins has tasked his new chief accountant, Kurt Hohl, to be the point person on the effort. Sources say the former Ernst & Young partner has made plain in meetings that he is no fan of the board. Hohl is also said to be taking a hard look at what authorities the SEC may have.

One of the ideas being discussed, according to people familiar with the matter, is moving the PCAOB’s enforcement and inspections divisions into the SEC. Also under consideration: putting the board’s standard-setting duties under the Financial Accounting Foundation.

The latest evidence: Job postings for all five of the PCAOB seats, potentially paying less than usual and emphasizing candidates interested in “the efficient stewardship of PCAOB resources.” But that’s just the beginning….

ICYMI last week in @Capitol Account: Paul Atkins is plotting a major overhaul of the PCAOB, sources say. Outsing Chair Erica Williams was just the first of many coming changes….

The CFPB has backpedaled on the open banking rule. Instead of fully surrendering to banks in the ongoing litigation, the bureau now wants to pause the suit and instead do an "accelerated rulemaking." Good for fintech/crypto, bad for banks. CFPB filing today:

@CapitolAccount @ChopraUSA @russvought Full story for subscribers

@CapitolAccount @ChopraUSA @russvought Now, those issues are Vought's to untangle. PLUS just in tonight, a statement from the CFPB 👀👀

@CapitolAccount @ChopraUSA @russvought Sources tell us it’s a more complex situation than meets the eye. Under Chopra the bureau was investigating but trying to reconcile jurisdictional hurdles and the tangle of firms (banks, various apps) involved. Is Synapse even a consumer financial company? Not clear….

@CapitolAccount The mechanism… the CFPB’s civil penalty fund (which, incidentally, the GOP OBBB would have slashed before the provision was dropped). Victims have been begging the CFPB to do this. It didn’t happen under @ChopraUSA , now it’s happening under @russvought . Why?.

The Trump administration has seemingly taken every opportunity to dismantle the CFPB. But tonight in @CapitolAccount : Signs of life. Last month the bureau jumped into the tail end of the Synapse bankruptcy case, saying it “has a mechanism to potentially make victims whole.”.

As for the policy, the cases are sharpening arguments for those trying to save some semblance of agency independence. The focus: capitalizing on SCOTUS’ attempt to insulate the Fed from the president.

How was @RKSlaughterFTC received when she briefly returned to work last week? A bit of stonewalling, we’re told. 👀 this bit from last night’s @CapitolAccount on the recent (and perhaps fleeting) court victories by fired Dems at the FTC and NCUA.

Right on cue, Trump Jr. weighs in on open banking.

@CapitolAccount @DavidSacks @russvought Could the open banking rule be revived? The challenge, of course, is that reversing a position Vought has taken in federal court will require a lot more effort than sending a tweet. Full story for subscribers:

Last night in @CapitolAccount: Crypto Enters the Open Banking fight, and on the fintechs’ side… a breakdown of how the politics on this issue have suddenly shifted against big banks -- and opened up a potential fissure in the Trump admin between @DavidSacks and @russvought . .

RT @DavidSacks: Concerning.

Speaking of @Pulte and Powell, Got a chance to ask @SenWarren this Am about it. She said the FHFA chief is making the US a "laughingstock" and advised him to "keep his thumbs in his pocket." Here's the full quote take (which came before Colby's reporting below):

RT @byclairew: The Trump administration is quietly killing a program that gives money to banks to lend within their communities🧵 https://t.….