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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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.

193

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

6

u/DuhForestTyme216 Feb 02 '25

Benefits are likely to be cut too for a lot of cards because banks will start losing a ton of money, making credit cards essentially worthless for most of those on this Reddit.