Tag Archives: CFPB

In the News: Federal judge blocks Musk team’s effort to shutter top consumer agency

Since its creation, the bureau has recovered over $21bn for defrauded consumers through enforcement actions against major financial institutions, including a $3.7bn order against Wells Fargo in 2022. There has been broad support for the agency, with a September poll from Americans for Financial Reform finding that 91% of voters believed it is important to regulate financial services to make sure they are fair for consumers – including 95% of Democrats and 87% of Republicans.

April 5th 2025 Hands Off CFPB Union Signs

Blog: There is No “Right Way” to Close the CFPB

Let’s be clear: Hal Scott’s opinion piece in the Wall Street Journal calling for the shutdown of the Consumer Financial Protection Bureau (CFPB)—because the Fed has been running a deficit—isn’t just a bad policy recommendation; it’s an intentionally backward argument that advocates harming the very people the financial system has historically exploited.

Blog: Vacated MoneyGram Case Will Hurt the World’s Most Vulnerable Populations

This week, the Trump administration withdrew a 2022 Consumer Financial Protection Bureau (CFPB) lawsuit against MoneyGram for its persistent failure to comply with consumer protection laws by failing to promptly deliver transfers, resolve disputes, and implement policies to comply with the law. The Trump CFPB’s refusal to hold MoneyGram accountable for its repeated and ongoing unlawful behavior is part of a pattern of willfully ignoring lawbreaking and letting financial scofflaws off the hook. 

sign for the CFPB outside a building

News Release: Republicans Betray the People, Side with Big Banks, Big Tech, and Elon Musk

The House majority today chose to give Wall Street banks free reign to charge outrageous overdraft junk fees and to abandon oversight of payment apps run by Big Tech and Elon Musk. Along partisan lines, the House voted to roll back two popular safeguards created by the Consumer Financial Protection Bureau (CFPB). Already passed by the Senate, the measures now go to President Trump to be signed into law.

Blog: #HandsOff Means #HandsOffCFPB Too

The #HandsOff demonstrations on April 5 included many different people, organizations, and causes, all united in an effort to stop the Trump administration’s destruction of the federal government and American democracy. Americans for Financial Reform was among the groups that supported the effort, with a particular focus on one subject: “Hands Off Our CFPB.”