Consumer Financial Protection Bureau Protection

SOURCE www.npr.org
A federal judge blocked the Trump administration from dismantling the Consumer Financial Protection Bureau and ordered reinstatement of terminated employees. The CFPB was created by Congress to protect Americans' financial security.

Key Points

  • Federal judge issued temporary injunction to protect CFPB
  • Judge skeptical of government's arguments
  • CFPB created by Congress to regulate financial sector

Pros

  • Protects Americans' financial security
  • Enforces regulations in the financial sector

Cons

  • Unpopular with some Republicans, Wall Street, and Silicon Valley executives