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The agency has been directed to shut down its oversight of non-banks and deprioritize medical debt, student loans, and digital payment platforms

WASHINGTON, DC — Yesterday, the Trump administration issued mass layoff notifications to Consumer Financial Protection Bureau (CFPB) employees, once again undermining the sole agency dedicated to consumer protection and putting money back in the pockets of American families. In addition to the layoffs, the agency has been directed to shut down its oversight of non-banks, scale back enforcement efforts, and deprioritize medical debt, student loans, and digital payment platforms. 

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The CFPB has returned over $21 billion dollars to 200 million Americans. Despite a court order blocking an illegal shutdown, President Trump is taking aim at the CFPB once again and opening the flood gates for consumer fraud and abuse.”

Accountable.US Executive Director Tony Carrk.
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