Us Politics And Policy News

Trump escalates bid to curb CFPB amid cost-of-regulation claims

The Trump administration has stepped up its bid to dismantle the CFPB, citing a White House–Council of Economic Advisers analysis that its rules have raised borrowing costs for Americans—estimates range from about $237 billion to $369 billion—while court rulings have kept the agency operating during litigation; Democrats counter with different cost calculations and highlight CFPB gains, noting the agency has returned nearly $20 billion to consumers and secured $5 billion in fines, but critics say the regulatory burden has restricted credit and driven up costs.