Trump announces one-year 10% cap on credit card interest rates

Elizabeth Warren, the senator from Massachusetts, also expressed skepticism about whether Trump could implement such a cap without approval from Congress. 

"Begging credit card companies to play nice is a joke. I said a year ago if Trump was serious I'd work to pass a bill to cap rates," Warren said in a statement. 

"Since then, he's done nothing but try to shut down the [Consumer Financial Protection Bureau]. Trump doesn't care about affordability. Americans know a fraud when they see one."…

https://www.theguardian.com/us-news/2026/jan/10/trump-credit-card-interest-rate-cap

 

Court orders Vought to keep CFPB funded while case is underway - POLITICO

The order from a DC District Court judge also casts doubt on the Trump administration's efforts to shutter the Consumer Financial Protection Bureau…

https://www.politico.com/news/2025/12/30/vought-cfpb-funding-order-00707866 

Trump revokes Biden order promoting competition in the US economy | Donald Trump | The Guardian

Biden signed a sweeping executive order in July 2021 to promote more competition in the US economy as part of a broad push to rein in what his administration described as a pattern of corporate abuses, ranging from excessive airline fees to large mergers that raised costs for consumers. 

The initiative, which was very popular with Americans, was championed by top Biden economic officials, many of whom had previously worked for or with the senator Elizabeth Warren, who played a key role in creating the Consumer Financial Protection Bureau under Barack Obama…

https://www.theguardian.com/us-news/2025/aug/13/trump-revokes-biden-order-economy

 

Trump's CFPB rollback has cost Americans $18 billion, consumer groups say | Reuters

The increased consumer costs from the CFPB's rollback of regulations on bank fees, wholesale dismissal of cases against banks and other lenders and the apparent failure to disburse funds intended for harmed borrowers run counter to Trump's campaign pledges to ease the cost of living, according to the Student Borrower Protection Center and the Consumer Federation of America…

https://www.reuters.com/legal/litigation/trumps-cfpb-rollback-has-cost-americans-18-billion-consumer-groups-say-2025-06-24/

Trump has subdued the Consumer Financial Protection Bureau. So what does this agency do? - CBS News

"If you have a bank account, or credit card or mortgage or student loan, this is code red. I am ringing the alarm bell. Elon Musk and the guy who wrote Project 2025, Russ Vought, are trying to kill the Consumer Financial Protection Bureau. If they succeed, CEOs and Wall Street will once again be free to trick, trap and cheat you," Warren stated in a videotaped post...

https://www.cbsnews.com/news/trump-consumer-financial-protection-bureau-what-is-the-cfpb-refunds/

 

Federal judge blocks CFPB from laying off more employees : NPR

The ruling from a federal court in Washington, D.C., is — for now — a reprieve for CFPB staff who had been bracing for mass layoffs as early as Friday...

https://www.npr.org/2025/02/14/nx-s1-5297870/cfpb-doge-trump-musk-federal-workforce

Elon Musk calls to ‘delete’ US finance consumer watchdog agency

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)…

https://www.theguardian.com/technology/2024/nov/28/elon-musk-cfpb-trump

Taking on Corporate Power (Sheldon Whitehouse; Making the Case podcast)

The Consumer Financial Protection Bureau is a great example of government that works. So it’s no wonder corporate powers are rooting for its downfall.

In this episode of Making the Case, Senator Elizabeth Warren joins Senator Whitehouse and Representative Johnson to discuss her role in creating the CFPB and the threat it now faces at the Supreme Court. This case, Consumer Financial Protection Bureau v. Community Financial Services Association of America, is a perfect example of how phony front groups and their dark money funders are attempting to use a captured Court to attack people’s ability through their government to protect themselves.
Interview: 

https://www.podbean.com/ew/dir-vckue-1bebdb01

Biden announces ‘strike force’ to crack down on ‘unfair and illegal’ prices

Lael Brainard, director of the National Economic Council, said: "Even as prices have come down on important items like a gallon of milk and a dozen eggs, some corporations aren't passing those savings on to consumers. Instead, some corporations are tacking on extra fees, hiding costs and sometimes even breaking the law."…

https://www.theguardian.com/us-news/2024/mar/05/biden-strike-force-unfair-illegal-prices

The Fifth Circuit declares the Consumer Financial Protection Bureau unconstitutional - Vox

Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority...

https://www.vox.com/policy-and-politics/2022/10/20/23414311/cfpb-unconstitutional-fifth-circuit-supreme-court-trump-community-financial

U.S. consumer protection watchdog's funding unconstitutional, court rules | Reuters

"Extreme right-wing judges are throwing into question every rule the CFPB enforces to protect consumers and businesses alike," U.S. Senator Elizabeth Warren, the Massachusetts Democrat who proposed the CFPB's creation, wrote on Twitter...

https://www.reuters.com/markets/us/us-consumer-protection-watchdogs-funding-unconstitutional-court-rules-2022-10-20/

Opinion | The CFPB once defended consumers. Thanks to Trump, it now helps companies prey on them instead. - The Washington Post

For two days this week, Consumer Financial Protection Bureau Director Kathy Kraninger testified to Congress about protecting consumers during the coronavirus pandemic, first in the Senate and then in the House. It went about as well as could be expected, which is not particularly well at all. Kraninger, a thoroughly unqualified Trump appointee, has shown little interest in doing her purported job, which is protecting Americans from the financial services industry. Rep. Nydia M. Velázquez (D-N.Y.) said she lacked empathy, while Sen. Elizabeth Warren (D-Mass.) demanded she resign.... https://www.washingtonpost.com/opinions/2020/08/01/cfpb-once-defended-consumers-thanks-trump-it-now-helps-companies-prey-them-instead/

Consumer watchdog group is being gutted, legal experts say

The agency created in the wake of the 2008 financial crisis to protect consumers from abuse is being gutted from the inside, according to some consumer advocates and legal experts.
https://www.cnbc.com/2020/01/28/consumer-watchdog-group-is-being-gutted-legal-experts-say.html

Trump administration asks Supreme Court to take up challenge to consumer bureau - The Hill

The Trump administration and Consumer Financial Protection Bureau (CFPB) on Tuesday asked the Supreme Court to take up a lawsuit challenging the agency's constitutionality.....
https://thehill.com/policy/finance/461826-trump-administration-asks-supreme-court-to-take-up-challenge-to-consumer

House rebukes Mulvaney's efforts to rein in consumer bureau - The Hill

The House voted Wednesday to undo the Trump administration's reining in of the Consumer Financial Protection Bureau (CFPB)
https://thehill.com/homenews/house/445081-house-rebukes-mulvaneys-efforts-to-rein-in-consumer-bureau

Trump administration wants to allow debt collectors to call 7 times a week and text, email as much as they want - The Washington Post

Trump administration wants to allow debt collectors to call 7 times a week and text, email as much as they want...
https://www.washingtonpost.com/business/2019/05/07/trump-administration-wants-allow-debt-collectors-call-times-week-text-email-much-they-want/

Senators To Consumer Watchdog: Prove You're Protecting Student Borrowers - NPR

Several top Democrats sent a stern letter to the Consumer Financial Protection Bureau asking for evidence that it's policing the federal student loan industry....
https://www.npr.org/2019/04/05/709847825/senators-to-consumer-watchdog-prove-youre-protecting-student-borrowers

Trump Wants to Give Loan Sharks Easier Access to the Poor - Vanity Fair

The president, champion of the working man, is about to gut consumer protections from predatory lenders. ....
https://www.vanityfair.com/news/2019/02/trump-cfpb-payday-rule

The Senate GOP Just Confirmed a Trump Aide with No Relevant Experience to Lead America's Financial Industry Watchdog - Mother Jones

On Thursday, the Senate confirmed Kathy Kraninger, a White House budget official with no consumer finance experience, as the new director of the Consumer Financial Protection Bureau, the watchdog agency created in the wake of the financial crisis to regulate certain financial institutions. ....
https://www.motherjones.com/politics/2018/12/kathy-kraninger-confirmed-cfpb-consumer-financial-protection-bureau/

The Trump administration’s war on consumers is going swimmingly - The Washington Post: Opinion

It's almost as though the system is . . . rigged. ....
https://www.washingtonpost.com/blogs/plum-line/wp/2018/12/05/the-trump-administrations-war-on-consumers-is-going-swimmingly/