09/16/2026
Less than two decades ago, a global financial and housing crisis stripped trillions of dollars of household wealth and pushed millions of families out of their homes. In response, Congress took a bold and long-overdue action to stop predatory and reckless lending practices that, until then, had gone unchecked and devastated millions of people’s financial well-being and the entire economy. As part of that response, Congress created the Consumer Financial Protection Bureau (CFPB) as an independent and adaptable federal watchdog with the sole mission to stand up for everyday people trying to borrow safely and save for the future.
Until the recent actions of this Congress and the Trump administration, the CFPB carried out this mission faithfully, efficiently, and successfully. Through its supervision, enforcement actions, and public complaint system, the CFPB returned over $21 billion in direct relief, including relief to people who were harmed by fly-by-night or bankrupt companies. It established critical market rules that increased pricing transparency and competition, curbed hidden junk fees, broke up predatory lending schemes, and halted misleading mortgage practices. Its research and specialized offices led the way in safeguarding servicemembers, students, older people, and others.
Yet despite that track record, Republicans in Congress are using the few remaining legislative days before the midterm elections not to investigate the rapid-fire corporate pardons of the past year or take on pressing affordability issues, but to try, yet again, to systematically dismantle the agency from within.
đź“– https://afrnews.substack.com/p/with-few-legislative-days-remaining
