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.

  • Postmortal_Pop@lemmy.world
    8·
    24 days ago

    OK, thanks for warning me about yet another thing I knew was going to happen. What’s the point of all these groups if none of them take any actions?