Donald Trump and his corrupt billionaire Cabinet just fired over 1,000 of the Consumer Financial Protection Bureau’s (CFPB) remaining employees in the most recent effort to shutter America’s watchdog agency and let financial predators off the hook. The CFPB has put $19.7B back in Americans’ pockets and has over a decade-long track record of holding predatory companies accountable for fraud, scams, and discrimination. Trump and his billionaire backers are making it clear they will always cheat hardworking Americans to line their own pockets. 

NEW: Donald Trump’s administration has fired most of the Consumer Financial Protection Bureau’s remaining employees, after rolling back protections against financial predators.

Washington Post: “The Consumer Financial Protection Bureau on Thursday moved to fire more than 1,000 of its remaining employees, according to two people familiar with the matter, defying a court order barring the Trump administration from terminating employees at the watchdog agency except for cause related to their individual performance. … 

“As part of that judge’s order, the administration was also required to reinstate probationary employees and other staff initially fired in February. The order also barred the administration from issuing reduction-in-force letters to any CFPB employees. …

“The layoffs were announced less than a day after the agency said it would slash its inspections of financial services companies in half and turn away from oversight of student loan, medical debt and digital payment issues, according to a memo sent to staff Wednesday from Mark Paoletta, the agency’s chief legal officer. … 

“The memo said all past CFPB enforcement and supervision priorities had been rescinded.”

The CFPB has helped protect consumer interests for 14 years, putting $19.7 billion back in millions of Americans’ pockets. 

Consumer Financial Protection Bureau: “As of January 30, 2025, CFPB enforcement actions have resulted in:

“$19.7 billion in consumer relief … 195 million people eligible for relief … [and] $5 billion in civil money penalties” 

Politico: “Wells Fargo Slammed With $3.7B Penalty, In Record CFPB Settlement”

Washington Post: “Bank of America agreed Wednesday to pay nearly $800 million in penalties for deceiving millions of customers into buying costly and unneeded services when they signed up for credit cards.” 

Consumer Financial Protection Bureau: “[T]he Consumer Financial Protection Bureau (CFPB) [ordered] Regions Bank to pay $50 million into the CFPB’s victims relief fund and to refund at least $141 million to customers harmed by its illegal surprise overdraft fees.”

Consumer Financial Protection Bureau: “CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme”

Military Times: “Troops will get part of a $5M settlement in alleged title loan scam”

Consumer Financial Protection Bureau: “CFPB Bans Navient from Federal Student Loan Servicing and Orders the Company to Pay $120 Million for Wide-Ranging Student Lending Failures” 

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