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The CFPB has dismissed more than 20 enforcement cases that could have returned $3.5 billion to American consumers. I asked CFPB Director and Project 2025 author Russ Vought a simple question: What do you say to the seniors, veterans, servicemembers, people with disabilities, and families who you’ve hurt?

19,047 次观看 • 1 个月前 •via X (Twitter)

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Freudian Slip! Consumer Financial Protection Bureau Acting Director Russell Vought accidentally said the quiet part out loud: “I work for President Trump, not the American people.” That mindset is clearly evident in how the agency has gutted consumer protections in favor of industry and Trump donors. Since Trump took office, the CFPB has: • Overturned the overdraft fee cap — The Biden-era rule (which aimed to save consumers ~$5 billion per year with options like a $5 cap for large banks) was repealed by Congress via the Congressional Review Act in 2025. The CFPB is now barred from issuing substantially similar rules. • Rolled back price transparency and junk fee protections — This includes credit card late fees (the prior $8 cap proposal was blocked/vacated in 2025). The CFPB has since issued an RFI in July 2026 but has largely stepped back from aggressive action. • Dismissed or withdrew from 19–20 public enforcement actions. • Dramatically reduced new settlements and relief — Critics estimate this shift (plus dropped cases) has cost American consumers $19 billion in potential relief in the first year alone. • Closed 76% of supervisory actions (~1,500) and significantly scaled back examinations. • Pursued broad deregulation — Withdrew over a dozen final or proposed rules and nearly 70 guidance documents. Prioritized rescinding or reconsidering prior rules (e.g., Small Business Lending Data Collection under Section 1071). • Saw complaint volume surge to 6.6 million in 2025 (doubling prior years, largely driven by credit reporting issues), while consumer resolution/relief rates dropped sharply.

The Green Dragon Tavern

103,051 次观看 • 1 个月前