Trump-era CFPB rollbacks cost consumers up to $26.5B, says Sen. Warren report

A report by Sen. Elizabeth Warren reveals that changes made by the Trump administration to the Consumer Financial Protection Bureau (CFPB) have cost American consumers up to $26.5 billion. Most of this cost stems from eliminating limits on credit card late fees and overdraft charges, accounting for $22.5 billion. The remaining $4 billion comes from dropped enforcement actions and abandoned settlements that would have provided consumer relief. The report comes amid Senate hearings on the CFPB's direction and the nomination of Brian Johnson to lead the agency permanently.