Federal Reserve Chairman Powell stated that no federal regulatory agency can replace the work of the Consumer Financial Protection Bureau (CFPB) in the USA. If the CFPB were to close, there would be a gap in consumer compliance protection. Currently, large Banks have all regulatory agencies, except for the CFPB; the CFPB's task is to be responsible for the consumer compliance matters of large Banks. The Federal Reserve will continue to carry out consumer compliance qualification examinations for small state member Banks as usual; it hopes to ensure that stress tests remain resilient. It is committed to cooperating with the new leadership of other Banks regulatory agencies, and currently, the capital levels of the largest Banks in the USA are generally appropriate.