The California State Insurance Commissioner Ricardo Lara approved a $1 billion bailout of the state’s FAIR (Fair Access to Insurance Requirements) plan to help cover over 3,400 claims it has received due to the devastating Los Angeles fires. The FAIR plan provides insurance to consumers who were dropped by their private insurers.
The Securities and Exchange Commission’s (SEC) Acting Chair Mark Uyeda has requested that the 8th Circuit halt litigation of the agency’s climate transparency rule in light of his and Commissioner Peirce’s opposition to the rule and President Trump’s anti-regulatory order.
On Monday, February 10, Senator Elizabeth Warren, Representative Maxine Waters, and others will gather for a rally at the Consumer Financial Protection Bureau (CFPB). Elon Musk and Donald Trump are stealing from consumers, attempting to kill this essential agency that protects Americans from fraud and exploitation at the hands of banks and other corporations.
The shutdown of all supervision and oversight by the Consumer Financial Protection Bureau will allow all manner of financial companies, from Wall Street megabanks to payday lenders to financial technology firms to credit bureaus to rip people off and mistreat their customers at will.
Americans for Financial Reform Education Fund, a coalition of over 200 public interest groups fighting for a fairer financial system, today demanded answers from the Consumer Financial Protection Bureau about the reported presence at the agency of three representatives of Elon Musk’s so-called DOGE team.
Today, the Republican House majority revealed draft legislation to stop the Consumer Financial Protection Bureau’s (CFPB) overdraft rule from going into effect on October 1, 2025. The CFPB’s overdraft fee rule will reduce big bank overdraft fees from $35 per transaction down to $5, a move that will save the 23 million households in the United States that pay overdraft fees $5 billion annually, or $225 per family.