Financial regulators are rarely the subject of a media frenzy, but because the Trump administration has zeroed in on the Consumer Financial Protection Bureau, this past week has been the exception. Some of the hysteria is over Elon Musk, the billionaire Trump tapped to cut waste from the federal bureaucracy. But much of the ire…
By Nate Scherer, American Consumer Institute Policy Analyst The Trump administration has taken actions to halt work at, and potentially even abolish, the Consumer Financial Protection Bureau (CFPB). However, these actions have overshadowed a recent rush of dangerous new agency rulemaking that would grant the federal government more control over consumer financial data. Late last year, the CFPB…
By Yael Ossowski, Deputy Director of the Consumer Choice Center With a big tech-powered magnifying glass on federal websites, spending contracts, and government payment systems, Elon Musk’s band of DOGE system admins have been turning Washington inside out in their hunt for waste, fraud, and abuse. One of the most prized agencies on the chopping…
President Donald Trump on Tuesday nominated a slate of top financial regulators, including a permanent head of the Consumer Financial Protection Bureau, an agency that his administration has spent days dismantling, according to people familiar with the decision. Trump picked Jonathan McKernan, who resigned Monday from the Federal Deposit Insurance Corp. board, to lead the…
By Patrick Brenner, Founder and President of the Southwest Public Policy Institute Rohit Chopra’s departure as director of the Consumer Financial Protection Bureau (CFPB) should not merely mark the end of his tenure but the beginning of the end for the CFPB itself. Under Chopra’s leadership, the CFPB has gone from an overzealous regulatory body to an outright rogue agency, expanding its…
President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since Trump took office on Jan. 20. Chopra’s tenure saw the removal of medical…
By David McGarry, Research Director, Taxpayers Protection Alliance Donald Trump’s current mood seems to be a bellicose one as he faces down the alphabet soup of agencies in Washington, D.C. One agency that deserves to feel the horns of the bull-in-the-china-shop-in-chief is the Consumer Financial Protection Bureau (CFPB), an ugly mess of structural abnormalities and constitutional affronts….
By Juan Londoño, Senior Policy Analyst, Taxpayers Protection Alliance Those tuned in to the policy news cycle are likely aware of the Biden administration’s aggressive anti-tech agenda. Its approach has sparked increased scrutiny and various instances of regulatory overreach in the tech space. While that hostility was initially directed at the core products of the so called…
This past April, the Consumer Financial Protection Bureau (CFPB) released a report scrutinizing video game forums and virtual worlds. The report does not actually note any authority of the CFPB to oversee or regulate the video game industry and what they label as “digital marketplaces.” And, even though the report does not refer to any…
In a recent Fox Business article, Megan Henney reported the Federal Reserve would be keeping interest rates at their current elevated levels, meaning Americans will continue to face higher payments on everything from mortgages to students loans. At the current range (5.25% to 5.5%), interest rates have risen to their highest levels since 2001 impacting all Americans in need…
