Trump's Reckless CFPB Overhaul: A Bill to Pay for Republican Hubris The Consumer Financial Protection Bureau, created in 2010 to safeguard American consumers from predatory lending practices, has been systematically dismantled by the Trump administration.
According to a report from Senator Elizabeth Warren, the total cost to Americans is $26. 5 billion. The CFPB's transformation under acting director Russell Vought is nothing short of drastic.
The agency once aggressively enforced regulations aimed at protecting consumers from exorbitant credit card fees and overdraft charges.