Most people don’t have a team to fight back against financial firms when they get overcharged, get scammed, or face a rigged or broken debt collection process. That’s why, following the last financial crisis, Congress created the Consumer Financial Protection as the only federal agency with the sole purpose of protecting people in the financial markets. In its 15-year history, the CFPB has taken on payday lenders, Wall Street banks, scammers, and big tech companies returning over $21 billion to millions of people who were harmed by faulty financial products and had no other place to turn. Untold billions more have been saved by the regulatory safeguards the CFPB has put in place.
The CFPB is under attack.
Since the first weeks of the current administration, the Trump-appointed CFPB leadership and Republicans in Congress have worked to carry out the Project 2025 goal of dismantling the Bureau. While these efforts have been blocked in court, the Trump-Vought CFPB has continued to chip away at the agency’s staff, roll back critical protections, drop enforcement cases and let scofflaws off the hook, slash its budget, and undermine the powers it was granted by Congress to stop financial abuse, prevent scams, and keep the country out of another financial crisis.
You can view an up-to-date, day-by-day summary of the attacks on the CFPB below.
Advocacy
Reports and Fact Sheets
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Hiding the CFPB’s history doesn’t erase financial hardship in Trump’s economy
The Trump administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB) are blocked in the courts, months after missing its promised deadline to completely shut down the agency. Now, the Trump CFPB is hard at work rewriting the agency’s history to be an industry apologist and rubber stamp rather than a consumer watchdog.
AFR in the News
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Washington Examiner: Musk and Trump want to kill the CFPB. Republican voters beg to differ
Republican, Democratic, and independent voters alike express overwhelming support for the consumer bureau in a new poll, conducted among likely midterm voters by the bipartisan polling team of Chesapeake Beach Consulting and Lake Research Partners on behalf of Americans for Financial Reform and the Center for Responsible Lending. The bureau’s broad popularity has been consistent…
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Politico Morning Money: House Financial Services Republicans take on the CFPB
However, more than 50 consumer, labor, community, and civil rights groups sent a letter to the committee last week opposing the bill, writing that it would “complete the attack on the CFPB already underway to devastating effect” by Congress and the Trump administration.
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Scotsman Guide: Poll shows broad support for CFPB ahead of Vought’s congressional testimony
“The CFPB was created in the wake of one of the worst financial crises in our nation’s history,” Feltner stated, referring to the establishment of the bureau in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act after the 2008 financial crisis.
