In early 2025, the acting director of the CFPB suspended critical supervision and examination activities, placing the agency's enforcement power at risk. With the homebuying season approaching, potential buyers face uncertainty regarding the enforcement of regulations established by the Dodd-Frank Act. The CFPB, which was designed to protect consumers from abusive practices within the mortgage market, contrasts its proactive approach against a backdrop of its reduced capacity. Without the agency's oversight, the onus shifts to consumers, raising fears about increased financial abuse in the absence of regulation.
Without the CFPB, there's no cop on the beat to hold giant banks accountable, leaving hardworking Americans more vulnerable to financial abuse.
Before the agency existed, consumer financial laws were scattered among seven different agencies, and that meant enforcing those laws was not a first priority for any of them.
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