Preserve CFPB to protect consumer rights and interests

The Consumer Financial Protection Bureau (CFPB) plays a vital role in safeguarding consumers from deceptive and unlawful practices in the financial services industry. Since its inception, the agency has returned a staggering $17.5 billion to consumers through compensation and debt cancellation, handling thousands of consumer complaints weekly. However, recent actions by the Department of Government Efficiency (DOGE) threaten to dismantle the CFPB, with plans to terminate the vast majority of its employees and potentially eliminate the agency altogether. This reckless move jeopardizes the hard-earned progress made in protecting consumers' rights and holding financial institutions accountable. It risks leaving consumers vulnerable to predatory lending practices, hidden fees, and other forms of exploitation. Furthermore, the hasty termination of contracts and systems raises concerns about the preservation of crucial data, including consumer complaints, HR records, and accommodations requests. We urge you to take immediate action to preserve the CFPB's ability to fulfill its mandate and ensure that consumer protection remains a top priority. The agency's work is essential to maintaining a fair and transparent financial system that works for all Americans, not just corporate interests. Dismantling the CFPB would be a grave disservice to the public and could have far-reaching consequences for our economy and society.