Latest Posts

Trump Trashes the Economy and Leaves Americans Vulnerable: Two Disastrous Months of Trump’s CFPB

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This week marks two months since President Trump’s hand-picked OMB Director—and Project 2025 henchman—Russell Vought assumed control of the Consumer Financial Protection Bureau (CFPB). Since taking over, Vought has illegally fired staff, halted the Bureau’s critical work, and pardoned corporate lawbreakers and repeat offenders, creating chaos in the marketplace and sending the message that it … Continued

Curious How Much Banks Make from Overdraft Fees? We Have the Data

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Authors: Ethan Weiland, Adam Rust Overdraft fees transfer billions of dollars of wealth from regular people to banks every year. The Consumer Financial Protection Bureau (CFPB) recently introduced a rule that levels the playing field between banks and their customers. Congress must protect the rule. The rule establishes a new framework for how banks with … Continued

Taking the Chainsaw to Food Safety

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I took a trip into Trump Country last week—California’s central valley—on my way to visit the giant sequoia groves in Yosemite and King’s Canyon National Parks. Republicans can take credit for saving the sequoias. As the civil war raged, Abraham Lincoln signed a bill granting the land to California “for public use, resort, and recreation.” … Continued

CFAnews Update – March 31, 2025

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Topics in this issue… Making the Case to Preserve the Payday Lending Rule FTC’s New Leadership Leaves Americans’ Privacy and Pocketbooks Vulnerable Americans Deserve Safe Products on Online Marketplaces CFA Leads Coalition Urging Inclusion of Labor, Civil Rights, and Consumer Protection in Maryland “AI Working Group” Bill

After Years of Lectures, New CFPB Violates APA via Press Release

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Republicans in Congress and their industry allies complained throughout the Biden Administration about the CFPB’s purported “regulation by blog post” and alleged violations of the Administrative Procedure Act. These complaints were on full display at the House Financial Services Committee’s CFPB hearing last week: “The announcement of new regulatory requirements through blog postings, a Director’s … Continued

Overburdened

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Homeowners insurance protects homeowners and their belongings in case of unexpected damage, loss, or liability. For most American homeowners, their house is not only their home but also their largest financial asset. Insurance provides the risk management that virtually every homeowner needs. Without insurance, they are at risk of losing everything in just one disaster. … Continued

By Vacating Townstone, the CFPB Prolongs its March Madness

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The unprecedented corporate pardon granted by the Consumer Financial Protection Bureau (CFPB) Acting Director Russ Vought to Townstone Financial flouts rules designed to prevent redlining and sets a dangerous precedent for reversing civil penalties. On Wednesday, March 26th, the CFPB ignored the conclusions of a federal judge when it vacated a 2024 settlement with Chicagoland … Continued

States Should Protect People From Faulty Credit Reporting of Medical Bills as Congress Considers Unpopular Rollback

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The House Financial Services Committee held a hearing yesterday supposedly devoted to “balancing power” and “reprioritizing” consumer protection. Whatever the heck that means, a late-breaking addition to the agenda was a foolish House bill under the Congressional Review Act to erase the Consumer Financial Protection Bureau’s extremely popular, crucially important action removing medical bills from … Continued

CFA State AI & Privacy Update #5

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Welcome to the fifth installment of a newsletter from the Consumer Federation of America (CFA) tracking the latest news about how AI and personal data are used, abused, and regulated. Tomorrow at 130PM ET, CFA is hosting a conversation with former FTC and CFPB officials about the impact of efforts to hamper the agencies on … Continued

Pulling Back the Curtain on the FTC’s Corporate Pardon for MGM Casino

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The recent firings of Federal Trade Commissioners (FTC) prove that no federal agency that cracks down on corporate misconduct is immune to President Trump’s ire. After a century of working to protect consumers and small businesses through a five person bipartisan commission, the FTC is unquestionably under attack. Even before the president’s attempts to dismantle … Continued

Preserve the Payday Lending Rule

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Barring a last-minute action by the CFPB or a court intervention, the payment provision in the Consumer Financial Protection Bureau’s (CFPB) Payday Lending Rule will go into effect on March 30th. The rule has received bipartisan support and will protect people from unfair practices. Borrowers will benefit from the rule’s prohibitions on an unfair debt … Continued

Americans Deserve Safe Products on Online Marketplaces

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Last week, Amazon filed a lawsuit against the Consumer Product Safety Commission (CPSC), challenging the agency’s order to recall and remedy over 400,000 hazardous products sold through its Fulfilled by Amazon program. This legal action follows the CPSC’s July 2024 decision, which determined that Amazon was acting as a “distributor” under the Consumer Product Safety … Continued

CFAnews Update – February 28, 2025

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Topics in this issue… CFPB Fails to Pursue $2 Billion for Cheated Capital One Consumers The Very Real Dangers of Adopting Virtual Money Congress Should Not Roll Back Water Heater Standards and Leave Americans with the Bill What’s January 6 got to do with the price of eggs?

CFAnews Update – January 30, 2025

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Topics in this issue… The CFPB’s 2021-2025 Enforcement Legacy Alcohol Labeling Gains Crucial and Long-Overdue Attention CPSC Issues Decision and Order on Products Sold and Distributed by Amazon CFA Urges Thorough Investigation of Allstate’s Alleged Violations of Consumer Privacy

CFA State AI & Privacy Update #4

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Welcome to the fourth installment of a newsletter from the Consumer Federation of America (CFA) tracking the latest news about how AI and personal data are used, abused, and regulated. The newsletter will take a break on 3/12 so next installment will be 3/26. If you’re reading this and not subscribed, head to https://cfa.simplelists.com/ and … Continued

What’s January 6 got to do with the price of eggs?

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By Thomas Gremillion and Ethan Weiland, Consumer Federation of America A month of “shock and awe” has taken a toll on our collective attention span. But let’s not forget how we got here. Voters ranked inflation, felt most acutely in rising grocery prices, as the most important issue in the 2024 presidential election. So far … Continued

Congress Should Not Roll Back Water Heater Standards and Leave Americans with the Bill

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Appliance energy efficiency standards have quietly benefited American households for decades, putting money back in Americans’ wallets while driving innovation. However, efforts in Congress to roll back energy efficiency standards for tankless water heaters will have significant negative effects for American consumers.   The standards, finalized in December 2024, require new gas-powered tankless water heaters to … Continued

CFA State AI & Privacy Update # 3 – Feb 12, 2025

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Welcome to the third installment of a newsletter from the Consumer Federation of America (CFA) tracking the latest news about how AI and personal data are used, abused, and regulated. If you’re reading this and not subscribed, head to https://cfa.simplelists.com/ and on the list select the second from the top (“ai-privacy-updates (CFA State AI and … Continued

The Growing Challenge of E-Commerce and Product Safety

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CFA Analysis of 2024 CPSC Safety Warnings In an era of global trade and e-commerce, ensuring product safety is more challenging than ever. Consumer Federation of America’s (CFA) analysis of 2024 unilateral safety warnings reveal startling changes in product safety and underscores the urgent need for action. The Recall Process The Consumer Product Safety Commission … Continued

The Stakes of Halting CFPB Supervision: Why the Last Administration’s Accomplishments Matter

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When Congress passed the Consumer Financial Protection Act it created and gave the Consumer Financial Protection Bureau (CFPB) rulemaking, enforcement, and supervisory authorities. Supervision is important because it helps to ensure the safety of products used by consumers and contributes clarity to market participants. The work of supervision doesn’t attract much press attention, much less … Continued

More Must Be Done to Prevent the Flow of Unsafe Imported Consumer Products

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In a flurry of reporting on President Donald Trump’s tariff announcements, it appeared that the trade loophole enabling sellers on online marketplaces to import cheap goods into the United States without facing formal customs procedures and taxes might finally be closed. However, as Lori Wallach, Director of Rethink Trade at the American Economic Liberties Project, … Continued

Homeowners’ Insurance: State Policy Recommendations Based on the Case in Maryland

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This blog is based on the testimony of CFA’s Director of Housing Sharon Cornelissen before the Environment and Transportation Committee at the Maryland General Assembly on January 21, 2025 Over the last few years, homeowners’ insurance costs have steeply risen across the country. Consumers are increasingly vulnerable to sudden policy non renewals or steep price … Continued

CFA Privacy & AI Update #2 – Jan 29, 2025

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Good morning! Welcome to the second installment of a newsletter from the Consumer Federation of America (CFA) tracking the latest news about how AI and personal data are used, abused, and regulated. The newsletter will focus on the state level, where it’s nearly guaranteed there will be a lot of legislation and regulation on these … Continued

CFAnews Update – December 19, 2024

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Topics in this issue… Financial Services Conference Brings Advocates, Regulators, and Industry Together to Discuss Consumer Protections CFA Advocates Featured on Consumer Finance Monitor Podcast Gas Tankless Water Heater Standards are Major Step for Consumers CFA Joins Coalition of Advocates Calling for Pro-Consumer Updates to the Colorado AI Act

Setting the Record Straight

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As uncertainty reigns and constitutional scholars speculate that we may be “sleepwalking into autocracy,” I was glad to find some comfort recently in listening to Dr. Marty Makary on Peter Attia’s The Drive podcast. Makary is Trump’s nominee to lead the U.S. Food and Drug Administration. Like FDA Commissioner Scott Gottlieb in the first Trump … Continued