The minority staff of the U.S. Senate Committee on Banking, Housing, and Urban Affairs recently released a report on the Consumer Financial Protection Bureau (CFPB), revealing the number of consumer complaints processed daily dropped 80 percent after the Trump Administration initiated a stop work order and fired agency staff on Feb. 13.
The report examined the CFPB’s consumer complaint database and compared the number of complaints processed daily during the last three months of the Biden Administration with the daily average since Feb. 13.
“Every day, thousands of Americans turn to the CFPB when they get to the end of their rope with customer service – asking the agency to determine whether they’re getting tricked or cheated and to help get their money back,” U.S. Sen. Elizabeth Warren (D-MA), committee ranking member, said. “But since the Trump-Musk attack on the agency, the CFPB is processing 80 percent fewer complaints, meaning thousands of Americans every day are not getting the help they need. Donald Trump and Elon Musk are allowing Americans to get scammed.”
Warren and U.S. Sen. Andy Kim (D-NJ) wrote to CFPB Acting Director Russ Vought to ask whether the CFPB still has the staff as well as the financial, technological and other resources necessary to keep the Consumer Complaint Program operational.