Save the Consumer Financial Protection Bureau: Why Reform is Better than Abolition
2025-03-04
Bloomberg L.P.
The Consumer Financial Protection Bureau has faced a tumultuous start to the year, with its director being fired and a temporary replacement halting operations. However, abolishing the agency altogether may not be the solution. Instead, reforming the Consumer Financial Protection Bureau could help it better serve its purpose of safeguarding consumer finance and preventing financial scams. By implementing effective reforms, the agency can continue to protect consumers from predatory lending practices and promote financial stability. With the right changes, the Consumer Financial Protection Bureau can thrive and provide essential services to the public, making it a vital institution for consumer finance and financial regulation.
