Sharon Bowen's imminent departure from the Commodity Futures Trading Commission illustrates a problem many US regulators face: a lack of leadership created by a backlog of confirmations for President Donald Trump's nominees. The Senate confirmation process for financial regulators is taking three times longer than it did prior to 1990, according to the Bipartisan Policy Center's March study. The Washington Post (tiered subscription model) (21 Jul.)
Former hedge fund manager Anthony Scaramucci, who fundraised for President Donald Trump's campaign, has been named White House communications director. Scaramucci has been highly critical of the Labor Department's fiduciary rule. National Public Radio (22 Jul.)
Households in Britain are backing away from major purchases such as appliances, cars and vacations as the financial pressure on them intensifies at the fastest rate in three years, a survey from IHS Markit found. The company's Household Finance Index fell from June's 43.7 to 41.8 this month, the benchmark's lowest reading since July 2014. Reuters (23 Jul.)
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