What's at stake for consumers as Trump officials target the CFPB

The Consumer Financial Protection Bureau’s recent rules on overdraft and credit card late fees are in jeopardy, while others face an uncertain future.

The Trump administration’s efforts to dismantle the Consumer Financial Protection Bureau risk leaving Americans’ nearly $18 trillion in consumer debt with less supervision or regulation.

One CFPB staffer said Monday that every meeting and work item on their calendar, including reviewing investigative actions, had been deleted.

“I think at some point, the machinery is going to start to jam up,” said the employee, who asked to speak anonymously out of fear of reprisal. “What is industry going to do on its own?”

As of Monday evening, the CFPB’s homepage said “404: Page not found,” though other parts of the site appeared to be working. 

The CFPB homepage displayed an error message Monday.The confusion comes after a turbulent weekend at the CFPB, whose acting director, Russell Vought, told employees late Saturday to stop most work activities and on Sunday not to report to the office for the rest of this week. He also said in a post on X that the agency “will not be taking its next draw of unappropriated funding because it is not 'reasonably necessary' to carry out its duties.”

https://www.nbcnews.com/business/consumer/s-stake-consumers-trump-officials-target-cfpb-rcna191467

---