"The Consumer Financial Protection Bureau (CFPB) has taken the opposite approach: it goes where the money was taken-and gives it back to the people who were fleeced. This often includes seniors, members of the military, or lower paid government employees themselves. That, apparently, is the problem."
"A new report by Sen. Elizabeth Warren's (D-MA) office showed that Americans have lost nearly $19 billion since Trump took office again directly due to CFPB cuts. According to CFPB data, 22 pending enforcement actions against banks were dropped between January and October of last year, while only one new action was filed in all of 2025."
"If this continues, the CFPB will soon be unable to protect consumers from predatory lending, abusive fees, and outright fraud. What replaces it is not a free market, but a patchwork of state laws and voluntary compliance, a system that historically costs consumers billions in excess fees, higher interest rates, reduced access to credit, and damaged credit scores."
The Consumer Financial Protection Bureau recovers money taken from consumers through fraud and predatory practices, often helping seniors, military members, and lower-income workers. The Trump administration has severely weakened the agency through spending freezes and cuts, claiming it overregulates banks. Twenty-one states filed a lawsuit to block further cuts, with the DC Circuit Court of Appeals hearing arguments on the agency's fate. Since Trump took office, Americans have lost nearly $19 billion due to CFPB cuts. Enforcement actions dropped dramatically, with only one new action filed in 2025. Without the CFPB, consumers face increased vulnerability to predatory lending, abusive fees, and fraud, with costs historically reaching billions in excess fees and higher interest rates.
#consumer-protection #cfpb-enforcement #predatory-lending #financial-regulation #trump-administration-policy
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