The Consumer Financial Protection Bureau (CFPB) is facing a crisis following orders from the Trump administration to cease operations, effectively a "CFPB shutdown 2025." Acting Director Russell Vought directed CFPB staff to halt all work on February 10, 2025. This "Consumer Financial Protection Bureau Trump" action has sparked outrage, with advocates warning that gutting the CFPB will leave families vulnerable to fraud and abusive financial practices. For more details, read the NCLC's analysis of the "unlawful shut down of consumer agency": Details Here.
Check out Senator Warren's message about how the CFPB protects consumers against companies that engage in practices that harm consumers. Fight back to save the CFPB!
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During a White House Roundtable on 8/15/2023, CFPB Director Chopra announced that the CFPB will be developing rules to prevent misuse and abuse by data brokers that track, collect, and monetize information about people. Many of these firms assemble data to feed “artificial intelligence” (AI) that makes decisions about our daily lives. After conducting a public inquiry into data brokers and assessing today’s uses of AI that are often powered by data from the surveillance industry, the CFPB will be issuing proposed rules under the Fair Credit Reporting Act to address business practices used by companies that assemble and monetize our data.For more information, check out:
