Tag:DOGE
CFPB Faces Uncertain Future: What it Means for Consumers
The US Consumer Financial Protection Bureau (CFPB) is a government agency that ensures consumers are “treated fairly by banks, lenders, and other financial institutions.” Along with enforcing consumer protection laws, the CFPB oversees products, like credit cards and mortgages, and investigates complaints regarding dishonest or illegal activity to hold companies accountable. The CFPB has faced controversy about whether or not the agency has too much power. However, the CFPB is currently under increased scrutiny by the Trump administration, which could result in issues with consumer financial protections.
Executive Order 14216: What it Means for the Regulatory State
On February 18, 2025, President Donald Trump signed Executive Order 14216, titled “Ensuring Accountability for All Agencies,” mandating that independent federal agencies route their rules and new actions through the Office of Management and Budget (OMB). The order aims to enhance presidential oversight over agencies that traditionally operate with a degree of autonomy, like as the Federal Trade Commission (FTC), Securities and Exchange Commission (SEC), and Federal Communications Commission (FCC). The order signifies a substantial shift in the dynamics of the American regulatory state.
Effects of Ongoing Deregulation Under the Trump Administration: DOGE and the Congressional Review Act
Congressional Republicans have faced growing public pushback in early 2025, even from their own voters, regarding their collective inaction as the Trump administration has continued to consolidate power in the executive branch. At the same time, Congressional Republicans have faced increased pressure from the Trump administration, and Speaker of the House Mike Johnson, to continue to gut regulations and deliver President Trump’s corporate-focused agenda. One method that experts expect Republican lawmakers to utilize in addressing these pressures is the Congressional Review Act (CRA). The CRA allows Congress to repeal recently issued final regulations with only a narrow majority, which could thus lead to harmful deregulation that will likely compound the deregulatory actions already seen by Elon Musk’s Department of Government Efficiency (DOGE).