Consumer complaints at CFPB unanswered according to Trump, say dement

Since its foundation, the CFPB has returned more than 21 billion US dollars to consumers who were victims of fraud or fraud.

Washington – thousands of complaints submitted by Americans to the consumer financial protection office claims that fraud or fraud of private companies are not answered after President Donald Trump’s efforts to reduce the agency in a new report.

Your conclusion is based on publicly available data, the analysis of the Democrats of the Senate Committee for banking, housing and urban matters published on Tuesday, described by ranking member Sen. Elizabeth Warren, D-Mass.

The CFPB Consumer complaint program founded in the 2010 Dodd Frank Act serves as a clearinghouse for consumers to submit complaints online via telephone or post on financial products and services. According to the CFPB screens, the symptoms for an answer are sent to companies.

Since its foundation, the CFPB has returned more than 21 billion US dollars to consumers who were victims of fraud or fraud.

In the last three months of the former President Joe Biden’s Administration, CFPB has uploaded and published a daily average of 10,609 complaints received by consumers. During the same period, the CFPB submitted an average of 10,596 complaints to the companies named on the website of the office.

However, the processing has dropped considerably under Trump.

The agency uploaded the daily average of 7,853 consumer complaints in the 10 days after the level of awareness of Treasury, Scott Bessent, to stop the employees of the office, to stop a large part of their work. Five days later on February 8, Russian, director of the office for management and household and reigning director of the office, ordered CFPB employee to “hire all supervisory and examination activities” and “to set all stakeholders”.

Since February 13, the office has only pushed 2,234 complaints per day after the report on the report on the mass shots in the CFPB. In the past, the CFPB receives around 350,000 monthly complaints – a much greater pace than the number processed so far this month.

Between February 3 and February 13, CFPB submitted a daily average of 7,519 complaints to companies. The daily average of the complaints submitted to companies has dropped to 2,067 since February 13, which has decreased from 80% compared to the pre-rump rate.

“Consumers who need help are that their complaints are unanswered,” the report says.

OMB spokesman did not respond to a message from USA Today to get a comment.

The report is released before a forum of the democratic senators Warren on Tuesday in order to emphasize the consequences of Trump’s efforts to remove CFPB. The Top Trump consultant Elon Musk, who vowed to destroy the office of the government’s efficiency, was invited to the forum, but is not expected to take part.

Warren, who headed the CFPB after it was created during the Great Recession 2007-2009, asked information on Tuesday in a letter to the number of civil servants who are responsible for maintaining the complaint database, as well as potential dismissals of those who were involved in the processing of complaints to provide information.

“After the work on the agency has effectively stopped, it is unclear whether the CFPB still has the employees, financial, technological and other resources in order to keep the program for consumer complaints into operation,” said Warren in that of Senator Andy Kim, Dn.J.

“We are deeply concerned about the effects of your efforts to extend the CFPBonor voters who rely on the CFPB and its partner agencies to work on your name,” says the letter.

The biggest asset measure of the office was in 2022, when Wells Fargo ordered, by 3.7 billion US dollars of punishments and reimbursement for what it was for a widespread misconiating of mortgages and accounts that customers excluded their houses and cars and the people from their own bank accounts – with more than 16 million affected consumers.

The CFPB, which was founded to protect consumers from fraud, has long criticized the Republicans and the financial industry. The efforts to reduce the agency are aggressively worked as a DOGE under the direction of Multibillionär -Musk to reduce government spending and reduce the federal employee.

Trump said this month that his goal was to fully remove the CFBP and claims to make “Waste fraud and abuse” in the agency. On February 14, a federal judge ordered the Trump administration to stop the dismissal of CFPB employees until the court has accepted an application for a temporary injunction that would like to stop cleaning.

Reach Joey Garrison on X @Joeygarrison.

(Tagstotranslate) Consumer

Consumer complaints at CFPB unanswered according to Trump, say dement

ByAmelia Journalton

Since its foundation, the CFPB has returned more than 21 billion US dollars to consumers who were victims of fraud or fraud.

By Amelia Journalton

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