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#CFPB

2 posts2 participants0 posts today

The expense comes as the CFPB's budget is slashed nearly in half. The dir of the WHs budget office wears mult hats, incl the temp head of the #CFPB.

OMB:🚨now billing CFPB $4.7M for Vought’s security detail.

AGT: “on a fast track,” despite the funding not being incl in CFPB’s fiscal 2025 budget. The $4.7M will cover Vought’s security through Dec -meaning it will draw from both fiscal years 2025 & 2026.
Egregious: his budget cuts will cause ppl to suffer/die.
#OMB #USPol govexec.com/management/2025/07

Government ExecutiveRuss Vought bills CFPB $5M for his security detailThe expense comes as the consumer-protection agency's budget is slashed nearly in half.

The CFPB's ~1,500 staffers: locked out of their offices & agency computers, while ATTYs & judges deliberate over the degree to which Trump’s wrecking crew is legally allowed to kill it.

#CFPB employees highlighted the dire situation -which has helped secure $21B in relief for Ms of wronged consumers since its 2011 inception.

Practically the only ppl at the CFPB doing anything are the ones working to🚨drop prior enforcement actions & CXL proposed rules.
#Corruption #USPol prospect.org/economy/2025-07-1

The American Prospect · Hardly Workin’The Consumer Financial Protection Bureau is on life support, and consumer scam complaints are surging as a result. The Trump administration wants to pull the plug.

"Trump promised to lower costs. Instead,🚨he gutted the consumer watchdog agency & helped big banks rip off Americans by an added $18B in fees & unchecked rip-offs.

Trump’s Gangster St serves anyone who can line his pockets & sticks it to the people."
-HJC Dems

R #corruption: Senate PARLM ruled in favor of Banking CMTE's revised #CFPB & Fed provisions. "The CMTE’s lang decreases the CFBP’s funding cap (at 6.5% of Fed's op budget, down from current limit of 12%)...
#USPol
reuters.com/legal/litigation/t

Continued thread

The increased consumer costs from the CFPB's rollback of #regulations on #BankFees, wholesale dismissal of cases against #banks & other #lenders & the failure to disburse funds for harmed #borrowers run counter to Trump's pledges to ease the cost of living, acc/to #Student Borrower Protection Center & #Consumer Federation of America.

Since #Trump took control of the #CFPB in Feb, calling for its elimination, admin ofcls have sought to reduce the workforce by about 90% & curtail its oversight.

CFPB now taking comments about the consumer complaint database, about: "(a) Whether the collection of information is necessary . . ." and "(c) Ways to enhance the quality, utility, and clarity of the information to be collected . . ." Comments are due 07/21/2025 at 11:59 pm EST

#lawfedi #CFPB #ConsumerProtection

federalregister.gov/documents/

www.federalregister.govFederal Register :: Request Access

White House scraps plan to block data brokers from selling Americans’ sensitive data

A senior Trump administration official has scrapped a plan that would have blocked data brokers from selling Americans’ personal and financial information, including Social Security numbers.

#data #bigdata #infosec #databrokers #privacy #socialsecurity #technology #tech #trumpadministration #CFPB

techcrunch.com/2025/05/14/whit

TechCrunch · White House scraps plan to block data brokers from selling Americans' sensitive data | TechCrunch
More from Zack Whittaker

"The agency that Congress created after the last FIN crisis to help prevent another FIN crisis is🚨currently completely handcuffed from working *at verge of another major FIN crisis -it’s terrifying.

The one thing we were created to do we can’t do -at a time when we’re most needed -I think the goal is to try & close the agency before Vought’s time is up as acting dir-."

Trump officials tried to axe ~1,500 of the #CFPB’s 1,700 WKRs last mo *blocked by a fed judge.
#USPol
theguardian.com/us-news/2025/m

The Guardian · Workers at top US consumer watchdog sound warning as Trump bids to gut agencyBy Michael Sainato

#Coinbase saved on payroll by underpaying for work outsourced to India so that its customers could get defrauded of at least a few hundred million dollars *already*. They (the customers) will no doubt now be stalked for years by cybercriminals who have their passport, home address, and bank information.

#ThatsSoCrypto, but also this is why Coinbase donated so much money to get Donald Trump elected so #DOGE could, in Elon's immortal turn of phrase, "delete #CFPB" (meaning destroy the Consumer Financial Protection Bureau who were helping customers deal with their complaints about Coinbase).

#crime#crypto#fraud
Continued thread

From Reuters:

Appeals judges prod #Trump admin, #union over #CFPB wind-down

Federal appeals court judges in Washington wrestled Friday with the extent to which they could instruct the Trump admin to operate the government's consumer finance watchdog agency, which the White House this year has sought to decimate if not shut down entirely.

reuters.com/sustainability/boa