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US consumer finance watchdog workers protest Musk’s DOGE

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US consumer finance watchdog workers protest Musk’s DOGE
Workers at the U.S. Consumer Finance Protection Bureau demonstrated outside its headquarters on Saturday protesting Elon Musk’s assault on the agency. The union said Musk’s DOGE agency had improper access to the bureau’s systems which could potentially jeopardize sensitive data and also said the CFPB could regulate a business Musk has indicated plans to enter.

The bureau’s website has been malfunctioning since late on Friday, around the time Musk posted a message on X that said: “CFPB RIP.”

About 100 people attended Saturday’s protest, chanting slogans and holding placards that accused Musk and President Donald Trump of subverting democracy. The protesters drew honks of support from passing motorists near the White House.

The demonstration, organized by a union chapter representing CFPB staff, came a day after that union said DOGE representatives had gained improper access to the agency’s computer systems, according to a statement on National Treasury Employees Union 335’s website.


According to a person with knowledge of the situation on Saturday, DOGE representatives have received administrative-level access to all of the CFPB’s IT systems. Musk’s Department of Government Efficiency has quickly moved to remake the federal government, gaining access to confidential data and drawing legal challenges from labor groups and state attorneys general. Early Saturday, a federal judge temporarily blocked Musk’s team from accessing government systems used to process trillions of dollars in payments, citing a risk that sensitive information could be improperly disclosed.

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On Friday, Trump named newly confirmed Office of Management and Budget Director Russell Vought as the acting CFPB director, according to the OMB. Vought is a longtime budget hawk and architect of the right-wing policy manifesto known as Project 2025, which called for the CFPB’s abolition.

Congress created the CFPB in 2010 after the global financial crisis. The bureau was charged with policing and regulating the consumer finance sector, which originated the toxic financial products underlying the crash. Republicans have criticized the agency as being unaccountable and exceeding its legal authority.

The agency’s investigations, supervisory activities and collection of consumer complaints generate large amounts of confidential information.

In a Friday statement, the union noted that Musk’s X and Visa were partnering in an effort to offer direct payment services to consumers. The CFPB is the primary federal supervisory regulator tasked with consumer financial protection for larger nonbank participants, according to the Congressional Research Service.

Under former President Joe Biden’s administration, the agency returned more than $6 billion to consumers while imposing a further $3.2 billion in fines, according to the Consumer Federation of America.

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These included a $3.7 billion settlement with Wells Fargo, over abusive consumer practices, the agency’s largest-ever enforcement action, as well as actions against Bank of America, Citibank, Goldman Sachs and Apple.

Musk and the CFPB did not immediately respond to a request for comment. The White House did not respond to detailed queries about developments. Representatives for Visa and X did not immediately respond to requests for comment.

In a statement, Elizabeth Warren, the top Democrat on the Senate Banking Committee who helped create the CFPB, said Congress had created the agency and that no one else, “not the President, not Elon Musk, not Russ Vought–can destroy it.”

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Building a scalable finance function at Coca-Cola Europacific Partners

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Building a scalable finance function at Coca-Cola Europacific Partners

Implementing the “Future of Finance Academy”

KPMG in the UK worked with CCEP to co-create a comprehensive learning program for senior managers and associate directors in its finance function. We began by developing a strong understanding of the unique business context in which the company and its finance team operate.

This also helped us determine the best mode of delivery for its globally distributed finance function and identify opportunities to stretch CCEP’s ambitions further.

For example, the KPMG team proposed turning the final module of the course into a showcase presentation. Trainees applied what they had learned to real business challenges and presented their solutions to the board in a business pitch-style competition. Although this added to finance leaders’ already demanding workload, it proved to be one of the course’s most successful elements, enabling participants to put their new skills into practice.

Before work on the Academy began, KPMG developed a detailed plan setting out how the two teams would work together, ensure consistency across the learning modules, maintain quality assurance, and manage changes to scope.

KPMG professionals then collaborated closely with CCEP to co-create bespoke learning content, with CCEP’s senior finance leaders acting as subject matter experts alongside our own finance specialists. 

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Bangladesh Says $300 Billion Climate Finance Goal Falls Short, Calls for More Support

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Bangladesh Says 0 Billion Climate Finance Goal Falls Short, Calls for More Support
DHAKA, June 23 (Reuters) – Bangladesh called on ⁠Tuesday ⁠for more funds and ⁠faster support for developing countries facing escalating threats from climate change, saying the global climate financing goal of $300 billion per ‌year fell short of ‌their needs. Speaking at the World Economic Forum’s …
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EU and Hong Kong in talks on new financial services dialogue, envoy says

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EU and Hong Kong in talks on new financial services dialogue, envoy says

Senior officials from the European Union and Hong Kong are in talks to launch a financial services dialogue, with companies from the bloc keen to explore opportunities in the Northern Metropolis, its top representative in the city has said.

Ambassador Harvey Rouse, head of the EU Office in Hong Kong, made the remarks at the Greenway 2026 forum on Tuesday, where he highlighted opportunities for cooperation on sustainable innovation and the green transition.

In a keynote address, Rouse said Hong Kong had established itself as one of Asia’s leading centres for green and sustainable finance, and that, as “two of the world’s leaders” in this field, both sides had an opportunity to deepen cooperation.

“Indeed, this cooperation is already under way,” he said.

“Senior exchanges between Hong Kong and the European Commission have intensified over the past year with visits of EU officials to Hong Kong and vice versa. Both sides are looking at starting soon a financial services dialogue to enhance cooperation.”

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Rouse said European firms could also provide investment and expertise to support Hong Kong’s green transition.

“This is particularly relevant as Hong Kong develops the Northern Metropolis,” he said, referring to the city’s 30,000-hectare (74,131-acre) megaproject near the border with mainland China.

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