Laurel Malmsley

That's right. That's when millions of Americans lost their homes due to lax lending standards, and it brought the global economy tumbling with it. The Dodd-Frank Act established the Bureau to prevent such a disaster from happening again.

At a high level, what the Bureau is supposed to do is that it's been tasked by Congress to regulate consumer financial products and services like credit cards, mortgages, etc., So consumer protection responsibilities are now unified under one agency that's tasked with being on the side of the consumer against big banks and financial services companies. And it's really done a lot.

At a high level, what the Bureau is supposed to do is that it's been tasked by Congress to regulate consumer financial products and services like credit cards, mortgages, etc., So consumer protection responsibilities are now unified under one agency that's tasked with being on the side of the consumer against big banks and financial services companies. And it's really done a lot.

At a high level, what the Bureau is supposed to do is that it's been tasked by Congress to regulate consumer financial products and services like credit cards, mortgages, etc., So consumer protection responsibilities are now unified under one agency that's tasked with being on the side of the consumer against big banks and financial services companies. And it's really done a lot.

I mean, just in recent months, it's made rules capping credit card late fees and overdraft fees. It sued the payment app Zelle and the banks that operate it, saying they didn't protect consumers from fraud. And it sued Capital One for advertising a high-yield checking account that paid close to zero in interest.

I mean, just in recent months, it's made rules capping credit card late fees and overdraft fees. It sued the payment app Zelle and the banks that operate it, saying they didn't protect consumers from fraud. And it sued Capital One for advertising a high-yield checking account that paid close to zero in interest.

I mean, just in recent months, it's made rules capping credit card late fees and overdraft fees. It sued the payment app Zelle and the banks that operate it, saying they didn't protect consumers from fraud. And it sued Capital One for advertising a high-yield checking account that paid close to zero in interest.

Well, all those actions I just mentioned have made it unpopular with some Republicans, as well as big banks and Silicon Valley. They say the Bureau is too heavy-handed in its regulation, and they argue it's overstepped its authority. And you know, if it wasn't so politicized, CFPB would be an unlikely target for cost-cutting.

Well, all those actions I just mentioned have made it unpopular with some Republicans, as well as big banks and Silicon Valley. They say the Bureau is too heavy-handed in its regulation, and they argue it's overstepped its authority. And you know, if it wasn't so politicized, CFPB would be an unlikely target for cost-cutting.

Well, all those actions I just mentioned have made it unpopular with some Republicans, as well as big banks and Silicon Valley. They say the Bureau is too heavy-handed in its regulation, and they argue it's overstepped its authority. And you know, if it wasn't so politicized, CFPB would be an unlikely target for cost-cutting.

Since its launch in 2011, it's returned more than $21 billion to Americans by means such as returning fees, canceling debt, reducing loans. And it's done that on a pretty small budget for a federal agency.

Since its launch in 2011, it's returned more than $21 billion to Americans by means such as returning fees, canceling debt, reducing loans. And it's done that on a pretty small budget for a federal agency.

Since its launch in 2011, it's returned more than $21 billion to Americans by means such as returning fees, canceling debt, reducing loans. And it's done that on a pretty small budget for a federal agency.

Yeah, there's a lot of legal action happening against these moves, as there is with other actions that Trump has taken. A union representing CFPB employees says the stop work order is unlawful. And it filed a second suit arguing that Musk's team's access to CFPB systems violates the Privacy Act.

Yeah, there's a lot of legal action happening against these moves, as there is with other actions that Trump has taken. A union representing CFPB employees says the stop work order is unlawful. And it filed a second suit arguing that Musk's team's access to CFPB systems violates the Privacy Act.

Yeah, there's a lot of legal action happening against these moves, as there is with other actions that Trump has taken. A union representing CFPB employees says the stop work order is unlawful. And it filed a second suit arguing that Musk's team's access to CFPB systems violates the Privacy Act.

A key idea they're arguing is the executive branch can't just get rid of an agency created by Congress with all the work it's required to do. So a lot of this is going to play out in court. But for now, there's just no real financial cop looking out for consumers in this country.

A key idea they're arguing is the executive branch can't just get rid of an agency created by Congress with all the work it's required to do. So a lot of this is going to play out in court. But for now, there's just no real financial cop looking out for consumers in this country.

A key idea they're arguing is the executive branch can't just get rid of an agency created by Congress with all the work it's required to do. So a lot of this is going to play out in court. But for now, there's just no real financial cop looking out for consumers in this country.

You're welcome, Scott.