
"Created after the 2008 financial crash, the Consumer Financial Protection Bureau (CFPB) is that rare Washington creature: An efficient consumer watchdog. Over the years, it has returned many billions in relief for people who got fleeced by Wall Street and Main Street alike. In Trump's America, it is unsurprisingly fighting for its life. On August 15, 2025, a federal appeals court dealt a major setback to the bureau by lifting a preliminary injunction that had temporarily blocked the Trump administration's plan for mass layoffs."
"In a 2-1 decision, the DC Circuit said the lower court lacked jurisdiction, then left a temporary stay in place while a new hearing is considered, which means the axe could still fall. For now, however, the CFPB's future looks precarious, at best. The bureau's peril is not a coincidence. It is the plan. From the moment he returned to the White House, Trump made clear he wanted to dismantle the CFPB, and he enlisted the new Department of Government Efficiency (DOGE) to help."
"During that meltdown, the US shed about 8.7 million jobs and millions of families lost their homes, a scale of harm that prompted Congress to act. In response, in 2010, President Obama signed the Dodd-Frank Act, which established the CFPB as an independent watchdog over banks, lenders and credit card companies, exactly the kind of efficiency target DOGE wanted to kill off."
The Consumer Financial Protection Bureau returned more than $21 billion to Americans and served as an independent watchdog over banks, lenders and credit card companies after the 2008 crash. A federal appeals court lifted a preliminary injunction on August 15, 2025, undermining a block on Trump administration plans for mass layoffs and leaving the bureau's future precarious. The Trump White House enlisted the Department of Government Efficiency (DOGE) to dismantle the CFPB, with DOGE led by Elon Musk moving quickly to attack. The CFPB handled consumer complaints, conducted research, wrote rules, issued guidance, investigated, litigated and took enforcement actions.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]