💨 Abstract

The Consumer Financial Protection Bureau (CFPB), tasked with overseeing banks and financial services, has been effectively halted for nearly six months. Under President Trump's 2.0 administration, the agency has been forbidden from conducting any work, undoing past efforts to protect consumers. Employees, constrained by directives, report a demoralizing environment, where basic tasks are neglected, and significant consumer complaints have dropped. Recent budget cuts threaten further reductions, while the agency's oversight capabilities remain largely dormant.

Courtesy: WTOP Staff