The CFPB was created to protect consumers from predatory and deceptive practices by financial companies. However, the agency has frozen dozens of ongoing investigations into alleged corporate wrongdoing under the current administration. This concerning move leaves individuals vulnerable to potential exploitation by big businesses. Major companies like Carvana, Meta, CareCredit, and others are no longer facing scrutiny over suspected violations that may have harmed millions of consumers. By halting these probes, the administration is signaling that corporations can act with impunity, while individuals lack the resources to hold them accountable. Companies have vast legal teams and resources to defend their interests, while most people cannot afford prolonged legal battles against corporate giants. The CFPB was meant to level this playing field by enforcing consumer protection laws on behalf of the public. Abandoning its enforcement responsibilities is an abdication of its mandate to safeguard people from corporate exploitation. The administration should immediately lift the enforcement freeze and allow the CFPB to resume its vital investigations. Individuals rely on the agency to curb deceptive business practices that they cannot effectively challenge alone. Permitting potential corporate misconduct to go unchecked undermines public trust and leaves people defenseless against entities with overwhelming advantages. Robust enforcement is essential to uphold the rule of law and protect consumer rights.
First sent on April 6 by Coleman
