FOR IMMEDIATE RELEASE: July 15, 2026
CONTACT: Jarice Thompson, jarice@ourfinancialsecurity.org
Trump Dismantling CFPB but Voters Support the Agency
With the shutdown of the CFPB blocked in the courts, the Trump administration and Republicans in Congress continue daily attacks designed to weaken agency
Washington, D.C. — Since the first weeks of the Trump administration, Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought has worked to carry out the Project 2025 goal of dismantling the Bureau, the only federal agency with the sole mission of protecting people in the financial markets. While these efforts have been blocked in court, the Trump-Vought CFPB has continued to chip away at the agency’s staff, its budget, and 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 a day-by-day summary of the attacks on the CFPB by the Trump administration and Republicans in Congress over the past 18 months here.
“The daily attacks on the CFPB have had a cumulative impact and the result is clear—a weakened CFPB has made everyday people’s financial lives more expensive, more confusing, and less safe,” said Tom Feltner, associate director of consumer policy at Americans for Financial Reform. “But while the Trump administration and Congressional Republicans continue to try and dismantle the agency, voters across party lines overwhelmingly support its mission and its work to protect people and the economy.”
Russell Vought is scheduled to make his first appearance in the House Financial Services Committee and the Senate Banking Committee this week. During these hearings, he will answer questions for the first time about his efforts to eliminate the CFPB and rollback critical consumer protections like the cap on overdraft fees and credit card late fees that enjoy broad popular support.
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