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#consumerfinancialprotectionbureau — Public Fediverse posts

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  1. The #Trump Administration’s Plan for Protecting Consumers? Politely Ask Companies to Behave.

    In mid-July testimony before Congress, #RussellVought boasted that, as the acting head of the #ConsumerFinancialProtectionBureau, he’d refashioned the agency’s approach to pursuing banks & other financial companies accused of exploiting Americans — the role #Congress had created for the agency after the 2008 economic crash.

    #Vought had spent the first 18 months of the new Trump administration trying to dismantle the bureau, much as he and other appointees had done with the U.S. Agency for International Development. At #CFPB , he’d ordered mass layoffs, tried to choke off the bureau’s funding & ended the lease on its headquarters, attempting to make good on his vow to put civil servants “in trauma.” But federal courts blocked Vought’s efforts to close the CFPB, with a judge at one point saying the administration had acted with “complete disregard” for Congress.
    #maga

    propublica.org/article/bilt-cf

  2. You Aren’t Defined by Your Financial Mistakes: Dave Ramsey Tells a Caller to Cancel His Mother’s $18,000 Credit Card Immediately

    Quick Read Dave Ramsey told a caller to immediately cancel his mother’s $18,000 co-signed credit card after six…
    #NewsBeep #News #Personalfinance #000 #18 #borrowingcapacity #Business #ConsumerFinancialProtectionBureau #creditcard #CreditScore #DaveRamsey #Finance #PersonalFinance #sharedownership #UK #UnitedKingdom
    newsbeep.com/uk/674840/

  3. "Consumer protection agency deletes thousands of pages as Trump administration seeks to dismantle it. Deletion of the bureau’s website content is just the most recent part of a larger plan to undermine an agency that’s helped people":
    theguardian.com/us-news/ng-int
    For #Trump #IgnoranceIsBliss.
    #politics #ConsumerFinancialProtectionBureau

  4. Lawmakers Demand Answers About Growing Number of Unfixed Mistakes on #CreditReports

    found that 2 of the 3 major #creditBureaus — #TransUnion & #Experian — had substantially scaled back how often they provided relief to complaints filed through the #ConsumerFinancialProtectionBureau. The decline in relief coincided with the #Trump admin’s attempts to conduct mass #layoffs at the #CFPB & roll back much of its #oversight of the #financial sector.
    #maga #privacy #finance

    propublica.org/article/credit-

  5. The New Republic | Trump Is Silencing Government Warning Signals of an Economic Crash by Timothy Noah

    If the United States economy is headed off a cliff, better that we receive no warning in advance. That may not be the stated goal of the Trump administration, but, to borrow a term from the late MIT economist Paul Samuelson, that’s its “revealed preference.” The preference in this case is revealed by Russell “Project 2025” Vought’s determined efforts, as director of the White House budget office, to shut down two agencies created by the 2010 Dodd-Frank Financial Reform and Consumer Protection Act.

    Dodd-Frank was Congress’s attempt to head off another catastrophe like the 2008 financial crisis. It was the first major financial overhaul since the Great Depression, and despite commentators’ general feeling that it never went far enough, bankers hated it. Now those same bankers want President Trump to gut two significant parts of it, and he’s obliging—at the very moment that the economy is teetering like a spring breaker at Panama City Beach.

    The first of the two offending agencies is the Treasury Department’s Office of Financial Research, or OFR. This is a small office—it’s never employed much more than 200 people—dedicated to furnishing policymakers with the kind of detailed information they lacked during the late aughts about mostly-unregulated “shadow banks” such as mortgage companies, private equity, private credit, hedge funds, and the repurchase agreement market, or “repo.” This last provides overnight short-term loans to manage corporate cashflow. The Washington Monthly has called OFR “The Most Important Agency You’ve Never Heard Of.” Here’s a detailed summary of OFR’s accomplishments.

    Read more: newrepublic.com/article/208579

    #consumerfinancialprotectionbureau #dodd-frank #donaldtrump #officeoffinancialresearch #wallstreet

  6. Americans lost an average of almost $1,000 to financial errors in 2025. 3 big money mistakes to leave behind this year

    DC_Studio/Envato Moneywise and Yahoo Finance LLC may earn commission or revenue through links…
    #NewsBeep #News #Personalfinance #adultAmericans #Business #CA #Canada #ConsumerFinancialProtectionBureau #creditcard #creditscores #DaveRamsey #FederalReserve #Finance #financialmistake #JeffBezos #NationalFinancialEducatorsCouncil #PersonalFinance
    newsbeep.com/ca/465340/

  7. jesus fuck, people: the only people out there with a mandate to save folks from the depredations of evil folks is the #consumerFinancialProtectionBureau, which the #assholeInCharge has recently decimated

  8. Backing Trump Has Paid Off for Silicon Valley Billionaires Like Marc Andreessen

    For more than a decade, Silicon Valley venture capitalists have poured enormous sums of money into newfangled technology companies seeking to disrupt, and even supplant, the traditional financial system and sidestep its burdensome regulations. At the same time, the Consumer Financial Protection Bureau has policed that effort, going after such businesses for deceiving…

    Source

    This post has been syndicated from Truthout, where it was published under this address.

  9. Americans are falling behind on car payments. Here’s why that could be a dark omen for the economy

    An increasing number of Americans are falling behind on their car payments, mimicking a trend commonly seen at…
    #NewsBeep #News #Economy #2008financialcrisis #AU #Australia #Business #car #cardealer #cfa #ConsumerFinancialProtectionBureau #interestrate #wall-street-journal
    newsbeep.com/au/207285/

  10. Senate GOP Moves to Slash Consumer Financial Protection Bureau’s Budget by Half

    The new attack on the CFPB comes after an earlier proposal to eliminate its entire budget violated reconciliation rules.

    voices.murica.website/?p=25643

  11. Before he helped fire most #ConsumerFinancialProtectionBureau staffers, #DOGE ’s #GavinKliger was warned about his investments and advised to not take any actions that could benefit him personally, according to a person familiar with the situation. www.propublica.org/article/cfpb...

    DOGE Aide Who Helped Gut CFPB ...

  12. #ConsumerFinancialProtectionBureau

    Since the Trump administration moved to dismantle the Consumer Financial Protection Bureau last month, the bureau has dropped nine lawsuits that it had brought on behalf of consumers.

    The actions effectively freed major financial firms like Capital One and the mortgage giant Rocket Homes from the threat of consequences for their alleged significant wrongdoing, shocking consumer advocates and raising questions about the future of America’s consumer watchdog.

    propublica.org/article/trump-c

  13. U.S. Senate Expected to Vote on Erasing IRS's Crypto Broker Rule That Threatens DeFi: Source - The U.S. Senate is poised to vote this week on reversing an Internal Revenue Service (IRS... - coindesk.com/policy/2025/03/03 #consumerfinancialprotectionbureau #internalrevenueservice #u.s.congress #breakingnews #u.s.senate #policy #defi

  14. Rep. Nancy Pelosi: "By freezing the #ConsumerFinancialProtectionBureau (CFPB) the Trump Administration is dismantling critical consumer protections that returned billions of dollars to taxpayers. Republicans are enabling financial predators to rip off hardworking Americans to reward their billionaire donors." Source: a newsletter she sent to people in her Congressional district, including me. #politics

  15. #Musk hopes to eradicate #CFPB that would oversee #regulating X

    #ElonMusk made a big leap late last month toward his long-shot goal of turning #X into an "everything app," a service that could encompass a broad range of services, including the ability to transfer #money, similar to Venmo or PayPal.

    #law #regulation #finance #tech #apps #Cybersecurity #InfoSec #security #privacy #fraud #oversight #corruption #ConsumerFinancialProtectionBureau #technocracy #broligarchy
    npr.org/2025/02/12/nx-s1-52933

  16. Jon Favreau: "Elon Musk is now bragging about destroying an $800 million/year agency that has returned $21 billion to consumers who've been screwed by banks, credit card companies, payday lenders, and other scammers. Get ready for the return of credit card late fees, overdraft penalties, and all kinds of new scams." #ConsumerFinancialProtectionBureau #CFPB

  17. Going after the CFPB will piss off Elizabeth Warren mightily, since the bureau was her brainchild. Myself, I wouldn't want to be on the wrong side of Warren's anger. She's a canny opponent, and smarter than Vought, Musk, Trump or anyone else in the regime.

    #coup #ConsumerFinancialProtectionBureau #CFPB #RussellVance

    cnn.com/2025/02/08/business/cf

  18. Apple abruptly abandons “buy now, pay later” service amid regulatory scrutiny - Enlarge (credit: sesame | DigitalVision Vectors)

    Apple has abr... - arstechnica.com/?p=2032164 #consumerfinancialprotectionbureau #buynowpaylater #onlinepayments #applepaylater #creditcard #applepay #policy #apple #loans #bnpl

  19. House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal - Leading members of the U.S. House Financial Services Committee, Chairman Patrick M... - news.bitcoin.com/house-financi #consumerfinancialprotectionbureau(cfpb) #u.s.housefinancialservicescommittee #cryptocurrency #patrickmchenry #regulation #frenchhill #crypto

  20. Zelle finally caves after years of refusing to refund scam victims - Enlarge (credit: NurPhoto / Contributor | NurPhoto)

    After scam... - arstechnica.com/?p=1983390 #consumerfinancialprotectionbureau #imposterscams #paymentapps #emailscams #phonescams #textscams #bigbanks #policy #scams #zelle

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