Save the Consumer Financial Protection Bureau

The Trump administration is dismantling the Consumer Financial Protection Bureau (CFPB) because Elon Musk and Trump's other billionaire friends don’t like the agency and its work to protect consumers and their rights. On Saturday, February 1, 2025, Trump fired Rohit Chopra, the director under whose leadership the CFPB targeted Big Tech and Big Banks. Shortly after, on Monday, February 3rd, Treasury Secretary Scott Bessent was named acting director of the CFPB. After assuming this position, the CFPB’s work was brought to a halt. Staff members were instructed to immediately cease the Bureau’s work. This includes a halt on issuing or approving proposed, final rules or guidance, and suspending the effective dates of all final rules that have been issued but have not yet become effective. Staff were also instructed not to commence or settle enforcement actions, nor to issue any public communications of any type, including research papers. This directive was made “in order to promote consistency with the goals of the Administration”. On February 7th, Russell Vought, an architect of Project 2025 and head of the Office of Management and Budget, took over as Acting Director of the CFPB. Soon after, the agency’s X account was taken down and its website continues to display a 404 error. These moves obviously come alongside Trump's other efforts to undermine core democratic institutions across our country. We need to preserve this crucial agency and its ability to take action against companies that break the law or treat consumers unfairly. The CFPB's actions include: - Taking enforcement actions against companies that break the law - Reducing junk fees - Issuing industry guidance - Curbing unchecked worker surveillance - Protecting consumers from shoddy data security practices - Making rules more effective - Enforcing rules consistently and fairly - Empowering consumers to take more control over their economic lives The CFPB's work is important - and hated by Trump's cabal of billionaires - because it helps ensure that markets for consumer financial products are fair, transparent, and competitive Please work to protect the CFPB and help get it back doing its good work!