Tag Archives: consumer protection

A book titled "Consumer Protection" on a desk with a gavel resting on top

Blog: Trump CFPB Abandons Data Broker Rule Aimed at Decreasing Fraud and Identity Theft

Earlier this week, the Trump CFPB withdrew the agency’s previously proposed data broker rule, which would have limited how our sensitive and private financial data is collected, used, and sold. With little to no other regulation over data brokers, the withdrawal of this rule will allow companies to collect and sell our private and sensitive financial data to third party strangers without oversight or accountability.

CFPB 2

Statement: AFR Statement on Trump Signing Anti-Consumer, Anti-Oversight Bills

Today, President Trump signed two laws that overturned commonsense consumer protections from the Consumer Financial Protection Bureau (CFPB), one capping overdraft fees and one supervising digital payment apps. Trump’s presidential signature paves the way for banks to harvest billions of dollars in fees and eliminates privacy and account protections for millions of digital payment app users.

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.