Following the release of a White House report on the Consumer Financial Protection Bureau (CFPB) yesterday, Center for Responsible Lending (CRL) Vice President Graciela Aponte-Diaz issued the following statement:
There's a glaring omission in this report. The Consumer Financial Protection Bureau has saved Americans trillions of dollars by protecting them from financial exploitation and providing guardrails that keep predatory lenders from creating a repeat of the catastrophic 2008 Financial Crisis.
Top US banks posted record profits in 2024 — they're doing just fine. Meanwhile, the CFPB has returned $21 billion directly to consumers over its history, exactly as it was designed to do. That work must continue, regardless of the administration's repeated attempts to dismantle the agency.
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Press Contact: Vincenza Previte vincenza.previte@responsiblelending.org