What’s at Stake as Trump Tries to Dismantle the CFPB?: QuickTake

Republicans have had the US Consumer Financial Protection Bureau in their sights since its 2011 inception. They’ve long sought to dismantle the watchdog, accusing it of overstepping its authority.

That goal has shifted closer to reality since President Donald Trump returned to office. While only Congress has the power to close a federal agency, the Trump administration has moved to render the CFPB effectively dormant, firing the bureau’s director, suspending much of its work overseeing financial companies, and closing its headquarters in Washington, DC.

The campaign is spearheaded by Russell Vought, who heads the White House’s Office of Management ...