The Consumer Financial Protection Bureau (CFPB), a key U.S. agency, has ground to a halt under the Trump administration, raising concerns that the pause in operations could leave nearly $18 trillion in American consumer debt with less oversight and regulation.
Founded in 2011 after the 2008 financial crisis, the CFPB is tasked with regulating consumer finance, including overseeing credit card companies, mortgage lenders, and debt collectors.
