Why Trump Wants To Shutter The Consumer Financial Protection Bureau

特朗普为何想关闭消费者金融保护局

What A Day

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2025-02-11

23 分钟
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The Consumer Financial Protection Bureau has become the latest federal agency in the Trump administration's crosshairs. On Friday, unelected billionaire Elon Musk and his minions gained access to the CFPB's computer systems. That same day, the White House named Russell Vought, the newly confirmed head of the Office of Management and Budget and longtime opponent of the CFPB, as the agency's new acting director. The next day, Vought ordered CFPB staffers to halt all work and to close the office, effectively shuttering the independent agency created in the wake of the 2008 financial crisis. Helaine Olen, managing editor at the American Economic Liberties Project and a contributing columnist at MSNBC, explains why shuttering the CFPB would be bad for average Americans. And in headlines: Trump doubles down on his plan to kick Palestinians out of Gaza, a federal judge says the White House has defied his order to unfreeze billions in federal grants, and the president slaps a 25 percent tariff on steel and aluminum imports.
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  • It's Tuesday, February 11th.

  • I'm Jane Coston and this is what a day.

  • The show that has decided it has hurt too many Taylor Swift, Travis Kelce conspiracy theories.

  • On today's show,

  • President Donald Trump doubles down on his plan to kick Palestinians out of Gaza

  • and a federal judge says

  • that the White House has defied his order to unfreeze billions in federal grants.

  • But let's start

  • with the administration's push to dismantle the Consumer Financial Protection Bureau.

  • If you viscerally remember the 2008 financial crisis,

  • you know why the Consumer Financial Protection Bureau was created.

  • The gross combination of predatory lenders, financial institutions running amok,

  • and a housing bubble led to the biggest financial downturn in the United States

  • since the Great Depression.

  • I graduated from college during that time, as did millions of millennials.

  • And if you ever wondered why people around my age are the way we are,

  • well, it wasn't the avocado toast we were all allegedly purchasing anyway.

  • The Consumer Financial Protection Bureau was created to protect consumers

  • from the scams that left millions of Americans out of work

  • and out of their homes during the Great Recession and the scams that banks