August 15, 2025
Court allows Trump to gut consumer protection agency
Banking protections evaporate as watchdogs eliminated
🔐Ethics💰Economy⚖️Justice
Federal appeals court ordered CFPB to fire 1,400 of 1,750 employees who investigate bank fraud and predatory lending
Wells Fargo, Bank of America, and JPMorgan now face zero federal oversight for illegal practices
The consumer hotline that recovered $15 billion for cheated customers shuts down completely
Banking industry spent $200 million in legal challenges to eliminate the agency protecting consumers
Credit card theft, mortgage fraud, and student loan scams now proceed without federal investigation
Only 350 employees remain to police the entire $28 trillion U.S. banking system
🔐Ethics💰Economy⚖️Justice
Test Your Knowledge
10
Q1
What percentage of CFPB employees will be eliminated after the federal appeals court ruling?
Q2
The banking industry spent $200 million in legal challenges to eliminate the CFPB.
Q3
Credit unions and community banks are better alternatives to mega-banks for consumer protection.
Q4
What is the most effective immediate action consumers can take to protect themselves from bank exploitation?
Q5
What types of financial crimes will go uninvestigated after CFPB staff elimination?
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Start QuizPeople, bills, and sources
Russell Vought
CFPB Acting Director (appointed February 2025)
Gregory Katsas
D.C. Circuit Judge (Trump appointee)
Amy Berman Jackson
U.S. District Court Judge
Elizabeth Warren
U.S. Senator and CFPB Creator
Rohit Chopra
Former CFPB Director (fired February 2025)