CFPB Trump Vought overdraft credit cards.

Once a powerful watchdog for financial wrongdoing, the Consumer Financial Protection Bureau has seen its enforcement efforts grind to a halt under the Trump administration. Employees report being unable to perform their duties, and investigations into financial misconduct are being undone. Financial institutions like Navy Federal Credit Union and Toyota Financial have had penalties rescinded, leaving harmed customers without restitution. The new budget law passed by Congress earlier this month cuts the CFPB’s funding by roughly half, meaning the bureau will be forced into mass layoffs.