Two reports show that the Consumer Financial Protection Bureau has taken a less aggressive stance under President Donald Trump than under Barack Obama
Corrections and Clarifications: A previous version of this story misidentified the Consumer Federation of America.
“If corporations can get away with breaking the law with no consequences, they will do it all the time,” said Robert Weissman, president of Public Citizen. “We’ve seen dramatic shifts from the relatively modest enforcement efforts by the Obama Administration to the barely visible, anemic efforts by the Trump Administration.
“The Bureau also has a significant number of open non-public investigations being handled by enforcement staff. Director Kraninger will continue to carry out the mission of the Bureau and enforce the law against bad actors,” the spokesperson said. In 2017 and 2018, the CPSC completed seven enforcement actions totaling $53.5 million, compared to 13 cases totaling $56.1 million in the final two years under Obama, it found.
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