Stop the Dismantling of the CFPB – Protect Consumers from Financial Abuse

I am writing to express outrage over the Trump administration’s decision to shut down the Consumer Financial Protection Bureau (CFPB), halt enforcement of financial regulations, and strip away critical consumer protections.This reckless and unjustified move leaves Americans vulnerable to predatory banks, credit lenders, and financial institutions—many of which have been repeatedly fined by the CFPB for fraudulent and abusive practices. Since its creation in 2011, the CFPB has been one of the most effective watchdogs in protecting consumers from financial exploitation. It has secured billions in penalties from corporations that engaged in deceptive practices, illegal fees, and discriminatory lending. Just in the past few years, the CFPB: • Ordered Equifax (2025) to pay $15 million for mishandling credit reporting errors. • Ordered Navy Federal Credit Union (2024) to pay $95 million for predatory overdraft fees. • Ordered Wells Fargo (2022) to pay $3.7 billion for fraudulent overdraft fees and improper interest charges. • Ordered Regions Bank (2022) to pay $191 million for illegal surprise overdraft fees. Eliminating the CFPB does not help working Americans—it only benefits big banks and corporations that want to operate without oversight. The claim that the agency is “weaponized” is nothing more than a cover for gutting consumer protections and allowing financial giants to exploit vulnerable people with impunity. I demand that you take immediate action to stop the dismantling of the CFPB by: 1 Holding emergency hearings on the administration’s attack on consumer protections. 2 Introducing legislation to safeguard the CFPB’s mission and prevent its dissolution. 3 Calling for the reinstatement of Rohit Chopra and full restoration of CFPB operations. This is not about politics—it is about protecting Americans from financial abuse. The administration’s actions make it clear that they prioritize corporate profits over consumer rights. Congress must not allow this attack on financial accountability and transparency to go unchallenged. The American people are watching, and we expect you to act. I look forward to your response and your commitment to defending consumer protections against this blatant corporate giveaway.