FOR IMMEDIATE RELEASE: April 17, 2025

CONTACT: Jarice Thompson, jarice@ourfinancialsecurity.org

 AFR Statement on Escalating Attacks on the CFPB and the Communities It Protects

Washington, DC-The most recent plans for the CFPB from the Trump Administration—additional dramatic staff cuts, a narrowing of the agency’s focus, and a reduction in supervision and enforcement—all send the same dangerous message: that bad actors in finance have permission to rip people off with impunity. The administration’s efforts are an open invitation for big corporations to use predatory and abusive financial tactics to prey upon Black, brown, immigrant, and working class communities that have long suffered at their hands. By cutting needed staff, disengaging from the oversight of non-banks, scaling back enforcement efforts, and overturning rules, the Administration is doing more than undermining an important agency: it is risking the financial stability of millions to serve the interests of corporations and Big Tech. 

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