The Consumer Financial Protection Bureau notified employees of potential job cuts after Congress halved its funding cap, following Trump’s earlier purge of Director Rohit Chopra. The CFPB, established after the 2008 financial crisis to protect consumers from predatory lending, credit card …
The CFPB dismissed a lawsuit against Comerica Bank that had accused the bank of systematically mistreating 3.4 million federal benefits cardholders through disconnected customer service, illegal fees, and mishandled fraud complaints. The lawsuit, originally filed in December 2024 by then-Director …
Donald TrumpTrump AdministrationRohit ChopraComerica BankBank of New York Mellonregulatory-capturegovernment-contractsjustice-weaponizationcfpbtrump-administration
The Trump administration, led by Elon Musk’s Department of Government Efficiency (DOGE), began a comprehensive dismantling of the Consumer Financial Protection Bureau (CFPB). Key actions included firing most of its 1,700 employees, closing its Washington headquarters, and effectively …
Donald TrumpElon MuskLinda YaccarinoRussell VoughtElizabeth Warren+4 moreregulatory-capturetech-monopolyconsumer-protectionx-platformfinancial-services+1 more
President Trump fired Rohit Chopra, the CFPB director appointed during the Biden administration, removing a key consumer protection advocate. Trump appointed Scott Bessent as acting director, signaling a significant shift in the agency’s leadership and approach to financial regulation.
Donald TrumpRohit ChopraScott Bessentregulatory-captureexecutive-powerfinancial-regulation
The FTC announces a record $5 billion fine against Facebook for privacy violations related to Cambridge Analytica, but grants unprecedented immunity from personal liability to Mark Zuckerberg and other executives for past misconduct while imposing no structural changes to the company’s …
FacebookMark ZuckerbergFederal Trade CommissionRohit ChopraRebecca Kelly Slaughter+1 morefacebookftcregulatory-capturefineszuckerberg-immunity+4 more