Trump-Led CFPB Pardons Ten Repeat Offender Corporations
A new memo by the Consumer Federation of America and Protect Borrowers details how Acting CFPB Director Russell Vought and President Trump have issued 22 corporate pardons to Wall Street banks, predatory lenders, and wealthy executives — including 10 repeat offenders with histories of illegal behavior. Vought’s CFPB has gone so far as to revoke or alter 20 settled enforcement actions, eight of which involved repeat offenders required to compensate victims. These actions have stripped consumers of billions of dollars in restitution. In total, the repeat offenders named have previously paid more than $7 billion in penalties from CFPB and other regulatory cases. The memo catalogs these corporations, their past violations, and the status of their Trump-era pardons.
