AP NEWS

Enforcement actions at watchdog agency halt under Trump

April 10, 2018

NEW YORK (AP) — Documents obtained by The Associated Press show the Consumer Financial Protection Bureau has not recorded a single enforcement action against banks, credit card companies, debt collectors or any finance companies whatsoever since the Trump administration took over the agency late last year.

Under Democrat Richard Cordray, the bureau used to issue enforcement actions at an average of two to four a month. But records show zero enforcement actions have been taken since Nov. 21, 2017, three days before Cordray resigned.

Enforcement actions are one of two ways the CFPB returns money to U.S. consumers who have been harmed by banks and other financial companies. The bureau has returned $3.97 billion in cash to American consumers through enforcement actions and an additional $7.93 billion in other types of relief.

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