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Wednesday, November 12, 2025

Russell Vought advances plan to dismantle the Consumer Financial Protection Bureau

The Trump White House doesn't just want to curtail the CFPB's efforts, it also wants to stop them " permanently.

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In the months that followed, consumer groups estimated that the Trumpification of the CFPB had cost American consumers roughly $18 billion.

This was outlandish, but the public could at least take comfort in knowing that the agency's doors remained open. That might soon change.

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"A month later, Vought " one of the key authors of the right-wing policy blueprint Project 2025, which called for the CFPB's demise " is advancing his plan anyway."

"The Trump administration has formally determined the Consumer Financial Protection Bureau's current funding mechanism is unlawful, a move that puts the agency on track to close in the coming months when its existing cash runs out.

The decision, disclosed in a court filing late Monday, marks the administration's most direct effort yet to dismantle the consumer watchdog and sets up a new front in the ongoing legal battle over its future.

The administration said it now considers the CFPB legally barred from seeking additional money from the Federal Reserve, which is the agency's typical source of funding." - Politico

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"A report from The New York Times added soon after that this one agency "has clawed back $21 billion for consumers. It slashed overdraft fees, reformed the student loan servicing market, transformed mortgage lending rules and forced banks and money transmitters to compensate fraud victims."

The Trump White House doesn't just want to curtail these efforts, it also wants to stop them " permanently."

#1 | Posted by Corky at 2025-11-12 04:12 PM | Reply

Thanks magat scum

This agency was designed to help YOU

#2 | Posted by truthhurts at 2025-11-12 04:19 PM | Reply

Can't wait to see them crowding onto to this thread to explain to us how the Consumer Financial Protection Agency is an evil Dem plot against 'Murica.

#3 | Posted by Corky at 2025-11-12 05:04 PM | Reply

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