Thousands of consumer complaints unanswered after Trump CFPB purge, Dems say
Source: USA Today
Published 11:26 p.m. ET Feb. 25, 2025 | Updated 12:33 p.m. ET Feb. 25, 2025
WASHINGTON - Thousands of complaints submitted by Americans to the Consumer Financial Protection Bureau alleging fraud or scams from private companies are going unanswered following President Donald Trump's efforts to dismantle the agency, Senate Democrats argue in a new report.
Their conclusion is based on publicly available data detailed in an analysis released Tuesday by Democrats on the Senate Committee on Banking, Housing and Urban Affairs led by ranking member Sen. Elizabeth Warren, D-Mass.
The CFPB's Consumer Complaint Program ‒ established in the 2010 Dodd-Frank Act that created the agency ‒ serves as a clearinghouse for consumers to submit complaints online, by phone or mail about financial products and services. After the CFPB screens the complaints, they are sent to companies for a response. Since its founding, the CFPB has returned more than $21 billion to consumers who were victims of fraud or scams.
During the final three months of former President Joe Biden's administration, the CFPB uploaded and publicized a daily average of 10,609 complaints received by consumers. During the same period, the CFPB submitted an average of 10,596 complaints to the companies that were named, according to data on the bureau's website. But the processing has dropped significantly under Trump.
Read more: https://www.usatoday.com/story/news/politics/2025/02/25/cfpb-consumer-complaint-unanswered-trump-firings/80233487007/
Link to Senate Banking, Housing, and Urban Affairs Democrats' PRESS RELEASE - Ahead of CFPB Forum, Banking Committee Releases New Analysis Revealing Precipitous Drop in Consumer Complaints Processed After Trump-Musk Attack on American Consumers
Link to Senate Banking, Housing, and Urban Affairs Democrats' LETTER (PDF) - https://www.banking.senate.gov/imo/media/doc/kim_warren_letter_to_vought_on_cfpb_complaint_database.pdf
Link to Senate Banking, Housing, and Urban Affairs Democrats' REPORT (PDF) - https://www.banking.senate.gov/imo/media/doc/left_in_limbo_how_president_trumps_efforts_to_dismantle_the_consumer__financial_protection_bureau_force_consumers_to_face_corporate_greed_alone.pdf
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