Why DOGE is killing the agency that stops banks from ripping you off
About this episode
From the show’s notesRohit Chopra was the Consumer Financial Protection Bureau head until the end of January, when President Donald Trump fired him and Elon Musk’s DOGE began trying to dismantle the agency. The CFPB has been pretty popular since it was founded in the wake of the 2008 financial crisis to protect consumers, so shutting it down has kicked off a bunch of controversies — not least of which was whether Trump and Musk even had the power to do it.
This all led me to ask several times who made the decision to fire him, who is currently responsible for the various policies of our government, and whether any of those things add up to a clear plan. Some of the most powerful executives in the world answer questions like this on Decoder all the time. But Rohit just didn’t know — and that should probably be as worrying as anything.
Read the show’s notes in full
Links:
Trump fires CFPB director Rohit Chopra | Associated Press
Trump orders CFPB to stop work, closes building | Associated Press
CFPB workers reinstated after court order but still can’t work | The Verge
Trump admin to appeal order blocking CFPB shutdown | Bloomberg Law
A shady tech bootcamp may be sneaking back online | The Verge
CFPB won’t enforce long-awaited payday lending rule | Bloomberg Law
CFPB seeks to vacate redlining settlement, refund lender | Banking Dive
CFPB signals it will drop rule regulating BNPL like credit cards | PYMTS
CFPB drops fraud lawsuit against banks, Zelle | CNBC
Credits: Decoder is a production of The Verge and part of the Vox Media Podcast Network. Our producers are Kate Cox and Nick Statt. Our editor is Ursa Wright. The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit podcastchoices.com/adchoices
