Together, the administration, congressional Republicans and industry-backed lawsuits have undone a decade’s worth of CFPB rules on matters ranging from medical debt and student loans to credit card late fees, overdraft charges and mortgage lending.
The agency has also dropped or paused its probes and enforcement actions, and stopped supervising the consumer finance industries, leading to a string of resignations.
The CFPB and the White House did not respond to requests for comment.
Mission accomplished, we got rid of those pesky government regulations that (checks notes) protect Americans from fraud and financial shenanigans. A win for the
america peoplegrifters, fin-tech, and trad banks.What a great day to let the market govern itself, after all, no company would make things worse for their customers right? /S