CFPB
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Blog
Judge temporarily saves the CFPB
A court took action on Friday to keep the Trump administration and its Department of Government Efficiency (DOGE) from shutting down a consumer watchdog agency while its court case plays out. Judge Amy Berman Jackson granted a preliminary injunction to save the Consumer Financial Protection Bureau (CFPB) from being further gutted while she decides whether the Trump administration has the…
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CFPB workers are reinstated after a court order, but many still can’t work
Terminated employees at the Consumer Financial Protection Bureau (CFPB) have been brought back to work in response to a judge’s order — sort of. Probationary employees (a class of government workers who are newer to an agency or role) received letters over the weekend notifying them that they were reinstated into their positions, following a court order requiring the CFPB…
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How the CFPB Shutdown Is Impacting Consumers
Those cases involve several of the nation’s largest financial institutions, including the banks behind the payment app Zelle, over nearly $1 billion in allegedly unchecked consumer fraud on the platform; the bank Capital One, over an alleged scheme involving interest rates on millions of customers’ savings accounts; and Walmart, for allegedly opening accounts for more than 1 million delivery drivers…
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How Changes at the CFPB Could Impact Consumers
The move is perhaps not surprising, given that the CFPB has drawn the ire of Republicans, the banking industry, and other industry groups since its creation 14 years ago. Formed by Congress in the wake of the 2008 financial crisis, the CFPB has worked to rein in banks, credit card companies, predatory lenders, big tech, and credit reporting agencies. In…
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CFPB is reportedly trying to put Google under bank-like supervision
The Consumer Financial Protection Bureau (CFPB) is seeking to put Google under federal supervision, a move that could impose the same kinds of monitoring and inspections used on banks, The Washington Post reports. The CFPB’s concerns are not totally clear and the order may still change, according to the Post, citing two unnamed sources. Both the agency and Google declined…
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