New report estimates Trump-era CFPB tweaks cost Americans $19 billion
A new report claims that changes to the Consumer Financial Protection Bureau implemented during the Trump administration added about $19 billion in costs to American consumers.
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Krugman urges reviving CFPB as key to Trump affordability push
Nobel laureate Paul Krugman argues reviving the Obama-era Consumer Financial Protection Bureau would more effectively lower Americans’ credit costs than Trump’s proposed credit-card rate cap, potentially with little to no new legislation; he cautions that a cap could reduce credit access, while analysts remain divided on overall economic impact.
Trump’s Card-Cap Push Hits Republican Roadblocks
Trump’s proposals to cap credit card interest at 10% and back the Credit Card Competition Act face stiff opposition and legal/implementation hurdles in Congress, with House Republicans and several senators expressing skepticism or opposition. While a few lawmakers on both sides show interest, the path to enacting these ideas is uncertain, and the biggest challenge appears to be resistance from his own party.
CFPB's Shift in Focus Reshapes Regulatory Landscape for Small Banks
The dismantling of the Consumer Financial Protection Bureau (CFPB) by the Trump administration has raised concerns among small banks and regulators about reduced oversight of consumer protection and nonbank lenders, potentially creating an uneven playing field and regulatory gaps, with the future of the CFPB currently under legal review.
Judge halts White House's CFPB defunding, employees to be paid
A federal judge blocked the White House's attempt to stop funding the Consumer Financial Protection Bureau, ensuring its employees continue to be paid, despite legal arguments that the Fed's current losses mean the bureau has no funds. The case centers on whether the White House can effectively shut down the CFPB by halting its funding, with the judge ruling that the agency must continue to receive funds from the Federal Reserve.
Judge Orders Trump Admin to Continue Funding Consumer Watchdog
A federal judge ordered the Trump administration to continue funding the Consumer Financial Protection Bureau, ruling that attempts to starve the agency of funds were unlawful and based on invalid legal reasoning, ensuring its operations continue amid ongoing legal battles.
Judge Orders Continued Funding for CFPB Amid Trump Administration Cuts
A federal court blocked the White House's attempt to defund the Consumer Financial Protection Bureau by arguing that the agency must continue to receive funding from the Federal Reserve, despite the Fed operating at a loss, preventing potential layoffs and shutdown of the bureau.
Court Orders Continued Funding for U.S. Consumer Finance Watchdog
A federal judge ruled that the Trump administration must fund the Consumer Financial Protection Bureau, rejecting claims that it cannot legally do so, as the agency faces potential funding exhaustion and legal challenges to its operations.
States sue to block Trump administration's efforts to defund or shut down the CFPB
A coalition of 21 Democratic-led states sued the White House and CFPB over funding issues, arguing that withholding funds based on the Fed's profits is unconstitutional, which could impair the bureau's ability to fulfill its consumer protection duties.
States sue Trump administration over CFPB funding cuts
A coalition of 21 Democratic-led states and D.C. sued the Trump administration to prevent it from defunding the Consumer Financial Protection Bureau by refusing to request funding from the Federal Reserve, arguing that such actions are unlawful and undermine congressional authority.
Multiple States Sue Trump Administration Over CFPB Funding
Multiple Democratic state attorneys general have sued the Trump administration to prevent efforts to shut down the Consumer Financial Protection Bureau (CFPB), arguing that the agency is vital for consumer protection and that recent moves to dismantle it are unjustified. The case is currently under review by the courts, with a hearing scheduled for late February, amid ongoing legal and political debates.
Trump Administration Strikes Blow to Consumer Watchdog Funding
The Trump administration is attempting to shut down the Consumer Financial Protection Bureau by challenging its funding mechanism in court, claiming it is unlawful and that the agency will run out of funds by 2026, despite previous court rulings blocking such efforts and the agency's significant consumer restitution achievements.
Trump Admin Declares CFPB Funding Illegal, Threatening Its Future
The Trump administration's move to declare CFPB funding illegal threatens the agency's operations by arguing it cannot draw money from the Federal Reserve, potentially leading to its dismantling, which critics warn would reduce consumer protection oversight.
Trump Administration Seeks to Reinstate Medical Debt on Credit Reports
The Trump administration's CFPB is moving to override state laws that protect consumers from having medical debt reported on their credit reports, aiming to establish a uniform national standard under the Fair Credit Reporting Act, which could impact millions of Americans with medical debt.
Federal Appeals Court Approves CFPB Mass Layoffs
A federal appeals court has allowed the Trump administration to proceed with plans to drastically reduce the Consumer Financial Protection Bureau's workforce by 80%, amid ongoing legal challenges and concerns about the agency's ability to fulfill its mandated functions.