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.

    • Juice@midwest.social
      7·
      24 days ago

      FDR’s job was to save capitalism from the jaws of socialism. Granted, I’m glad Stalinism didn’t catch on in the USA, since the american socialist movement was majorly Stalinist at that time, but capitalism has long outlived its progressive role and now is only a naked form of class oppression. Transforming the USA into a social democracy is no longer possible as the ruling class is no longer split on this issue as they were in FDRs time.

      Noone is coming to save us. We have to save ourselves and each other. Get educated, get organized, get active.