Advocates say they’re bracing for a sharp reversal at the Consumer Financial Protection Bureau after four of the most aggressive years in its brief history.

Summary

Consumer advocates warn that a Trump administration could dismantle key protections established by the Consumer Financial Protection Bureau (CFPB).

The CFPB, created after the 2008 financial crisis, has secured $20 billion in consumer relief under current leadership.

Trump allies propose eliminating the agency, prioritizing deregulation, and reversing rules on overdraft fees, credit card late fees, “buy now, pay later” services, and medical debt reporting.

While some measures might survive GOP control, critics fear weakened safeguards will leave consumers vulnerable to financial exploitation, especially in underserved communities.

    • Flying Squid@lemmy.world
      91·
      2 days ago

      They wanted a horse race when the opposite of what happened should have been obvious, and they got what they wanted.