The Trump Administration’s Plan for Protecting Consumers? Politely Ask Companies to Behave.

The Trump Administration’s Plan for Protecting Consumers? Politely Ask Companies to Behave. by Andy Kroll August 31, 2026, 6:00 am Rather than investigate a buzzy fintech startup for throwing users’ accounts into chaos, the Russell Vought-led Consumer Financial Protection Bureau trusted that the company was “back on track.” Customers soon learned the hard way that this wasn’t true. https://www.propublica.org/article/bilt-cfpb-russell-vought-trump-consumer-protection-fintech?utm_source=sailthru&utm_medium=email&utm_campaign=majorinvestigations&utm_content=feature Reporting Highlights Weakened Watchdog: After failing to dismantle the CFPB, Russell Vought and his allies have reshaped the bureau into an industry-friendly, less aggressive regulator. Face Value: The CFPB’s ask-nicely approach faced its first test when a buzzy startup failed its customers, but the CFPB took the company’s word that it fixed its problems. The New Abnormal: Current and former CFPB staffers say the bureau’s light-touch approach and reliance on political aides breaks from precedent and leaves consumers vulnerable.