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The Latest Breaking News from CFPB

Archives: May 2025

Excerpts from Reason's vaults

Reason

Court filings describe DOGE-driven, scream-filled, 36-hour mass layoff scramble at consumer protection agency

As the Trump administration seeks to gut the Consumer Financial Protection Bureau, employees are fighting back.

Fortune

Federal judge blocks Musk team’s effort to shutter top consumer agency

Order comes a day after the ‘efficiency’ team sent out orders to lay off 1,500 of the agency’s 1,700 employees

The Guardian - US

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Judge blocks latest attempt to slash CFPB - Roll Call

A federal judge said Friday she would block planned mass firings, announced the previous day, at the Consumer Financial Protection Bureau.

Roll Call

Consumer Watchdog Eyes 90% Workforce Cuts Under Trump-DOGE Federal Government Downsizing: Reports

The Consumer Financial Protection Bureau is set to lose most of its employees as it undergoes a "necessary" restructuring that will affect some 1,500 agency workers.

International Business Times

Layoffs hit Consumer Financial Protection Bureau as Trump's government downsizing continues

The Consumer Financial Protection Bureau is being downsized by President Donald Trump

The Independent UK

Credit card late fee cap scrapped as Trump admin sides with Wall Street banks

Last month, President Trump tried to dismantle the bureau completely by slashing £100m in contracts and firing 70 employees

The Independent UK

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Trump’s tariffs can be beneficial in the long term, but Congress needs a more active role, says top GOP lawmaker

As chair of the House Financial Services Committee, French Hill is helping shepherd key crypto legislation.

Fortune

Democratic senators Elizabeth Warren and Andy Kim demand investigation into DOGE cuts at CFPB

Warren, who conceived of and oversaw the creation of the financial watchdog agency after the financial crisis, is now trying to defend it.

Fortune

Texas judge throws out rule that would have capped credit card late fees

A Texas judge has thrown out a federal rule that would have capped credit card late fees

The Independent UK

Trump Can Continue Firing Consumer Financial Protection Bureau Staff, Appeals Court Rules

The Trump administration won a partial victory this week in its ongoing quest to dismantle the Consumer Financial Protection Bureau (CFPB).

Latin Times

Here is the agreement DOGE has with the consumer watchdog agency it is cutting up

The CFPB is on the hook for all travel or training expenses incurred as part of the USDS employees assigned to them.

Fortune

House votes to overturn Biden-era rule limiting bank overdraft fees to $5, sends to Trump to sign

The House has voted to overturn a rule that would have limited bank overdraft fees to $5, following the Senate in moving to dismantle the Biden-era regulation that the Consumer Financial Protection Bureau had estimated would save consumers billions of dollars

The Independent UK

With the Destruction of the Consumer Financial Protection Bureau, Fraud Victim ‘Not Hopeful’ He’ll Be Refunded

Agency charged with protecting consumers drops high-profile fraud cases, leaving victims in limbo.

Capital & Main

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Reason

An Executive Power Case That Trump May Win

The Supreme Court seems likely to agree that a member of the National Labor Relations Board may be fired by the president at will.

The Independent UK

Judge blocks Trump administration from dismantling of Consumer Protection Bureau

CFPB is responsible for protecting consumers from financial fraud and deceptive practices, and was created in the wake of the 2008 financial crash

Al Jazeera

Judge blocks Trump effort to shutter Consumer Financial Protection Bureau

The injunction is a setback for Trump, who has sought to streamline the federal government through cuts and layoffs.

The Independent UK

Federal judge blocks Trump from dismantling Consumer Financial Protection Bureau

A federal judge has agreed to block the Trump administration from dismantling the Consumer Financial Protection Bureau

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Kiplinger

What the House's Vote to Repeal CFPB Bank Overdraft Fees Cap Means For You

The Senate and House voted to overturn the Consumer Financial Protection Bureau's cap on bank overdraft fees. Here's what you need to know.

The Independent UK

Senate overturns rule that limited bank overdraft fees to $5

Senate Republicans hand ‘biggest banks billions in profits from overdraft fees that kick working people when they’re down,’ Elizabeth Warren says

Fortune

Americans finally got a rule protecting their credit scores from unexpected medical debt. Now Trump is attacking the agency behind it

The policy to remove health-care bills from credit reporting must remain to protect patients from predatory billing practices.

Salon

Trump's deregulation affects your money

Here's what to expect from a gutted Consumer Financial Protection Bureau, and how to protect your wallet

Salon

CFPB drops mobile-home loan lawsuit

The federal agency alleged Vanderbilt Mortgage knew borrowers couldn't repay their loans

The Independent UK

Pastor details taking fight to the Trump administration to get her student loans forgiven. All from her hospice bed

EXCLUSIVE: A pastor at the center of the lawsuit over the closure of the Consumer Financial Protection Bureau tells Mike Bedigan about her efforts even though she has just months to live

Reason

D.C. Circuit Issues Opinion Explaining Stay that Allowed for Special Counsel Dellinger's Removal

The panel did not believe the Office of Special Counsel could be distinguished from the Consumer Financial Protection Bureau or Federal Housing Finance Authority.

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