Chart of the Day: Donald Trump Has Killed the CFPB

The Consumer Finance Protection Bureau was set up after the Great Recession to protect consumer finances. Republicans hated it from the start, and you can hardly blame them. After all, there are two sides to everything, and if you’re protecting consumer finances you must be protecting them from something. And that something is big banks and other financial corporations. Republicans don’t like it when their CEO pals are told that they have to treat their customers fairly or risk big fines.

Still, there was nothing Republicans could do about it once the CFPB was set up. Its funding comes from the Fed and its director is independent of Congress. But then Donald Trump was elected president. He couldn’t dismantle the CFPB or cut its funding, but he could install a new director who would simply decide not to bother opening any cases. So that’s what he did:

Do you feel safer now?


Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2019 demands.

We Recommend


Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.


Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.


We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.