It said there was support for the four underlying principles of simplification, auto-entitlement, information transfer and making work pay, with a call for those individuals currently receiving passported benefits to continue to receive them.
The consumer bureau, created by the 2010 financial overhaul law known as the Dodd-Frank Act, gained new powers to reach deep into the most mundane decisions of money-transfer agents, mortgage bankers, auto lenders and virtually anyone else who provides financial products and services.