$26.5 billion is the consumer cost Sen. Elizabeth Warren put on the Trump administration’s CFPB overhaul, according to a report released before acting director Russell Vought’s Senate oversight hearing.
$15 billion of that estimate comes from abandoning an $8 cap on most credit-card late fees, while $7.5 billion stems from repealing an overdraft rule that would have limited many banks to $5 charges.
Roughly $4 billion more reflects the CFPB’s decision to drop more than three dozen enforcement actions and settlements, some of which were expected to send payments directly to consumers.
The report sharpens a broader fight over the bureau after staffing cuts, narrowed cases and Biden-era rollbacks; Republicans call the changes a curb on overreach, while Democrats say they have crippled a key watchdog.
That clash is unfolding as the Senate considers Trump’s nominee to permanently lead the agency, Brian Johnson, a former CFPB deputy director who later became a Capital One executive.