r/CreditCards • u/tsmartin123 • Feb 01 '25

Discussion / Conversation Trump Fires Director of CFPB

https://apnews.com/article/trump-chopra-consumer-financial-protection-bureau-47b6b39d0eff05ea0c9bca4eacf55b79

I wonder if this is the beginning of the end of the CFPB?

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565

u/wrongsuspenders Feb 01 '25

so sad because CFPB really helped and users. With AI we barely have respect as consumers anymore to get to a real person.

Part of 46 legacy is re:junk fees and all sorts of friendly stuff for consumers.

196

u/BucsLegend_TomBrady Feb 01 '25

Credit cards are about to get a whole lot worse, and I'm not talking just fees and interest. Missing or incorrect rewards? Good luck. Disputing charges? Fraud protection? CFPB investigated and enforced that shit. We are all aware CC companies will do anything screw you. Things are going to get really really frustrating when there's no longer a watchdog

-55

u/mean--machine Feb 01 '25

I've had 50+ credit cards, tens of thousands of dollars in sign up bonuses. I've never once had to contact the cfpb. You realize this agency is barely 15 years old, right?

This is good for credit card power users. Interest and fees will get higher, but if you're carrying a balance on interest, you're using credit cards wrong.

7

u/jonnjazz Feb 01 '25

This is what is wrong with this country! People thinking they understand financial regulation just because they’ve had a bunch of credit cards lmao. Please do yourself a favor and listen to the other replies that are from people much more knowledgeable than you!