Banks Want US Consumer Regulator Back to Undo Rules They Loathe

Financial companies were rarely shy about their issues with the Consumer Financial Protection Bureau. But a largely shuttered consumer watchdog is creating its own problems for the industry.

While the agency’s headquarters stands dormant amid a halt-work order, its rules — ranging from major new edicts to dozens of small points of guidance which companies are loath to go against — are still in place. Financial firms can face penalties from state authorities for running afoul of them. And they remain at risk of being punished by regulators for breaking rules after President Donald Trump’s term ends.