Real Estate News, February 5, 2025, Consumer Financial Protection Bureau faces new threat
The motivations behind the proposal: Cruz said the CFPB, which is an independent government agency, is “an unelected, unaccountable bureaucratic agency that has imposed burdensome and harmful regulations on American businesses, banks, and credit unions.”
Elon Musk is not a fan either, saying in November that the Trump administration should “delete” the CFPB.
What CFPB allies say: “Gutting the CFPB is an open invitation to the worst actors in our economy to start screwing over working people again,” said Jesse Van Tol, who leads the National Community Reinvestment Coalition, which works to build wealth for underserved communities.
