Consumer Financial Protection Bureau

Recent Developments:

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Thurs, July 16, 2026:

• Warren says Trump’s CFPB overhaul has cost Americans $26.5 billion - CNBC

  • Sen. Elizabeth Warren’s report, shared first with CNBC, says scrapping CFPB limits on credit card late fees and overdraft charges accounts for $22.5 billion of the estimated $26.5 billion in consumer costs.

  • The remaining roughly $4 billion stems from dropped enforcement actions and abandoned settlements that Democrats say would have provided consumer relief.

  • The report comes as lawmakers question acting Director Russell Vought over the agency’s overhaul and consider President Donald Trump’s nomination of Capital One executive Brian Johnson to lead the bureau permanently.

Mon, June 1, 2026:

• America’s Corporate Protector: Apple, Walmart and Toyota have all benefited from Russell Vought’s vision for the Consumer Financial Protection Bureau. - Bloomberg

Thurs, April 2, 2026:

• CFPB would see its workforce cut in by two-thirds from the staffing levels it employed 15 months ago under a new plan the Trump administration is seeking court approval to implement. - GovExec

Tues, Feb 24, 2026:

• Fate of CFPB employees hang in the balance as judges consider agency’s future. The Trump administration is seeking authority to lay off nearly all employees at the consumer watchdog. - GovExec

Tues, Dec 23, 2025:

• A coalition of 21 attorneys general from Democratic-led states sued the Consumer Financial Protection Bureau and its director, Russell Vought, on Monday, asserting that the White House’s argument to withhold funds from the consumer protection agency is unconstitutional. – AP

Tues, Dec 16, 2025:

• Sen. Elizabeth Warren, Rep. Maxine Waters (D-Calif.), and with every Democrat on Senate Banking and most Democrats on House Financial Services filed an amicus brief in the legal case over the future of the Consumer Financial Protection Bureau. Democrats contend that White House budget director and acting CFPB chief Russell Vought’s argument that the agency can only be funded when the Federal Reserve is profitable goes against the original intent of the Dodd-Frank Act, which created the agency. – Politico

Thurs, Dec 11, 2025:

• Rather than eliminating the CFPB, it would be better to reform the agency to respond to good-faith criticisms, such as giving Congress sole responsibility for appropriating the bureau’s funds and replacing the director with a bipartisan commission. – Bloomberg

Mon, Dec 8, 2025:

• CFPB tells President, Congress it will need $279.6 million to continue statutorily required operations through September 30, 2026 — but is not requesting the funds, in order to force a shutdown – JDSupra

Wed, Nov 19, 2025:

• Trump picks new CFPB director amid efforts to close agency. The nomination of Stuart Levenbach was a “technical” maneuver intended to extend White House budget director Russ Vought’s oversight of the agency. – Politico

Tues, Nov 11, 2025:

• Acting CFPB Director Russ Vought announced in a court filing that the agency would run out of cash to operate early next year, paving the way for a full shutdown of the agency. – Politico
  A new opinion from the Justice Department’s Office of Legal Counsel, submitted in court, contends that the CFPB cannot draw money from the Federal Reserve currently because the agency is only entitled to the central bank’s surpluses and the Fed has operated at a loss since 2022….But several federal judges have rejected that theory when companies raised it to dismiss CFPB lawsuits.

Wed, Oct 29, 2025:

• Trump administration moves to overrule state laws protecting credit reports from medical debt – AP

Tues, Oct 28, 2025:

• US consumer finance watchdog formally kills Biden-era bad actor registry – Reuters

Wed, Aug 6, 2025:

• These GOP Lawmakers Referred Constituents to the CFPB for Help. Then They Voted to Gut the Agency.
  Many of the same Republican lawmakers who have targeted the Consumer Financial Protection Bureau for cuts have collectively directed thousands of constituents’ complaints about banks, credit cards, loans and other products to the agency. – ProPublica

Tues, July 1, 2025:

• The CFPB’s megabill moment – Politico

Fri, May 9, 2025:

• President Trump plans to drop his nomination for Jonathan McKernan to lead the Consumer Financial Protection Bureau, leaving the agency in the hands of a temporary director as Mr. Trump’s officials work to gut the agency. – NYTimes

Fri, March 28, 2025:

• Judge orders CFPB to reinstate fired employees, preserve records and get back to work – CNBC

• CFPB dissolution halted by federal judge; In a preliminary injunction, U.S. District Judge Amy Berman Jackson ordered the Consumer Financial Protection Bureau to reinstate dismissed employees – WP

Mon, March 3, 2025:

• The illegal plan to dismantle the CFPB is failing. – Prospect

Fri, Feb 28, 2025:

• Trump and DOGE plan to fire nearly all CFPB staff and wind down agency – NBC

Thurs, Feb 27, 2025:

• Senators grill CFPB nominee – Roll Call

Wed, Feb 12, 2025:

• With attack on consumer bureau, Musk removes obstacle to his “X money” vision – NYT

• Trump’s CFPB pick-Jonathan McKernan-signals stability amid fears for the agency’s future – Politico

• Trump nominates new CFPB Director – ConsumerAffairs

• Trump unveils nominees for CFPB Director, Comptroller of the Currency – The Hill

Tues, Feb 11, 2025:

• CFPB heads of supervisions and enforcement announce resignations after stop-work order – CNBC

• The CFPB took aim at Big Tech. Then Musk moved to dismantle it. – WP

Mon, Feb 10, 2025:

• What is the CFPB and why is it a Trump target; CFPB was established to root out corporate wrongdoing after the 2008 crash – WP

• DOGE-backed halt at CFPB comes amid Musk’s plans for “X” digital wallet that would have been subject to CFPB consumer safeguards – Bloomberg

Sun, Feb 9, 2025:

• The flip-side to CFPB v. CFSAA: What is the Director requests $0 in appropriations – Reason

• In an email to staff of the Consumer Financial Protection Bureau, the agency’s acting director ordered workers to cease all bank supervision and consumer engagement activity. – NYT

Fri, Feb 7, 2025:

• Musk’s DOGE descends on CFPB with eyes on shutting it down – Politics

Wed, Feb 5, 2025:

• Trump and Musk are moving to smother these three pieces of the government-CFPB, AID, DoEd– CNN

Mon, Feb 3, 2025:

• CFPB halts work after Trump appoints Bessent as acting head – WashPost

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