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Warren: Trump CFPB Rollbacks Cost Consumers Up To $26.5 B

7/16/2026

Summary

Story summary

Senator Elizabeth Warren (D-Mass.) said Trump-era Consumer Financial Protection Bureau (CFPB) rollbacks have cost consumers up to $26.5 billion.
$15 billion stems from ending an $8 credit-card late-fee cap, with $7.5 billion from repealing an overdraft rule capping charges at $5.
$4 billion comes from dropped enforcement actions and settlements.
The estimates were released before Banking Committee hearing on July 16 2026 as it reviews President Donald Trump's nomination of deputy Brian Johnson to lead CFPB.

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Story summary

Senator Elizabeth Warren (D-Mass.) said Trump-era Consumer Financial Protection Bureau (CFPB) rollbacks have cost consumers up to $26.5 billion.
$15 billion stems from ending an $8 credit-card late-fee cap, with $7.5 billion from repealing an overdraft rule capping charges at $5.
$4 billion comes from dropped enforcement actions and settlements.
The estimates were released before Banking Committee hearing on July 16 2026 as it reviews President Donald Trump's nomination of deputy Brian Johnson to lead CFPB.