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CFPB headquarters in Washington, D.C. CFPB headquarters in Washington, D.C. (Source: Shutterstock)

The CFPB announced Tuesday it is opening a new office to spur competition in financial services by, among other means, giving consumers “their walking rights to switch providers.”

The CFPB’s news release said the new Office of Competition and Innovation is “part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants.”

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Jim DuPlessis

A journalist for decades.

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