• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump can delete Elizabeth Warren’s failed experiment once and for all

by February 5, 2025
written by February 5, 2025
NEWYou can now listen to Fox News articles!

Rohit Chopra’s departure as director of the Consumer Financial Protection Bureau (CFPB) should not merely mark the end of his tenure but the beginning of the end for the CFPB itself. 

Under Chopra’s leadership, the CFPB has gone from an overzealous regulatory body to an outright rogue agency, expanding its reach beyond financial services into digital marketplaces, crippling businesses with unjustified fines, and making financial products more expensive for everyday Americans. 

Now, with a new administration in office, President Donald Trump has a unique opportunity: appoint a CFPB director who will gut the agency from the inside and prepare it for a well-deserved abolition.

The CFPB, a creation of the 2010 Dodd-Frank Act, was initially sold as a watchdog for consumer interests. In reality, it has evolved into an unchecked behemoth that stifles competition, raises consumer costs, and meddles in industries far beyond its intended scope.

Under Chopra, the CFPB has aggressively expanded its regulatory footprint, targeting comparison shopping websites, gig economy platforms and even video game currencies. It has sought to regulate financial transactions on platforms like Expedia and Care.com, ensnaring ordinary consumers in regulatory capture.

The Supreme Court’s 2024 ruling upholding the CFPB’s funding structure emboldened Chopra to escalate the agency’s crusade against financial institutions and fintech companies. But the ruling didn’t endorse the agency’s wisdom or legitimacy. Congress created the CFPB, and Congress – or, better yet, a motivated Trump administration – can dismantle it.

The CFPB’s regulatory philosophy under Chopra has been punishment, not protection. The agency has levied billions in fines and penalties against financial institutions, but these fines don’t protect consumers – they punish them. When banks are hit with massive penalties, they don’t simply absorb the loss; they pass the cost onto their customers.

This means higher checking account maintenance fees, reduced credit card rewards and benefits, and fewer low-cost lending options for middle-class and low-income Americans. The irony is glaring: a philosophy that claims to protect consumers is, in reality, making financial products less accessible and more expensive for those it purports to help.

Elon Musk, who has been working with Trump on streamlining the federal government, put it bluntly: ‘Delete CFPB.’ Musk’s call for abolition is more than just a tweet – it’s a recognition of the damage this unaccountable agency is doing to innovation, financial markets, and consumer choice.

The CFPB’s recent attempt to expand oversight of Big Tech’s payment platforms, including Musk’s X Payments, was a glaring example of its mission creep. While initially designed to oversee financial products, the agency under Chopra increasingly sought to police non-financial businesses, threatening to strangle competition and restrict consumer access to innovative financial tools.

While complete elimination of the CFPB will require congressional action, Trump can neutralize the agency from within by appointing a director committed to rolling back its power. 

A new CFPB head should immediately halt enforcement actions that increase consumer costs, eliminate unnecessary regulations and burdens on financial institutions, shrink the agency’s budget and workforce, and redirect focus to consumer education rather than punitive measures. If Congress refuses to act, a Trump-appointed director can at least unilaterally leverage the agency’s unique funding mechanism to render the agency toothless, forcing it into irrelevance.

The CFPB is not a long-standing pillar of American governance, but a failed experiment of Elizabeth Warren’s progressive regulatory vision. Its unchecked authority, lack of congressional oversight, and hostility toward financial markets make it a danger to businesses and consumers. Chopra’s departure is the perfect moment for a strategic realignment of financial oversight in the United States.

President Trump and congressional Republicans must seize this opportunity. The CFPB is doing more harm than good, and its dissolution is not just a policy preference but an economic necessity. American consumers deserve financial freedom, not bureaucratic interference.

It’s time to delete the CFPB once and for all.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Fox reveals plans to launch subscription streaming service this year
next post
Trump budget bill could see ‘roughly’ $1 trillion in baseline spending cuts, top Republican says

related articles

Hawley blasts FDA approval of new abortion drug,...

October 2, 2025

Trump’s DOGE savings dwarfed by Medicare, Social Security...

October 2, 2025

FLASHBACK: James Comey urged officials to always prosecute...

October 2, 2025

The agency staff Vought might recommend cutting and...

October 2, 2025

Reagan-appointed judge, once rebuked by Supreme Court, continues...

October 2, 2025

‘Real consequences’: Food aid, flood insurance, FEMA funds...

October 2, 2025

Trump must triple severely outdated nuke arsenal to...

October 2, 2025

White House says federal layoffs could hit ‘thousands’...

October 2, 2025

Johnson shuts door on negotiating shutdown deal as...

October 2, 2025

Democrats refuse to budge over Obamacare fight as...

October 2, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump stands by RFK Jr. after heated Senate hearing: ‘I like the fact that he’s different’

    September 5, 2025
  • Banned chemicals found in American shampoo, sunscreen and tampons across major brands

    July 31, 2025
  • Hertz says 2024 hack exposed some customers’ driver license and credit card data

    April 15, 2025
  • On 9/11 anniversary Afghan opposition leader warns country once again a ‘safe haven for terrorists’

    September 11, 2024
  • Biden White House to send $1.25 billion in weapon aid to Ukraine before Trump transition: report

    December 28, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Who is White House physician Dr. Kevin O’Connor and what are his close ties to the Biden family?

    July 10, 2024
  • Trump admin secures pledge from 75% of health insurers in bid to improve patient care

    June 23, 2025
  • 124 Dems oppose historically bipartisan defense bill over restrictions on transgender treatments for minors

    December 12, 2024

Recent Posts

  • Turkey’s invasion threats should be taken ‘very seriously’: Cyprus official

    August 11, 2024
  • Kamala Harris reveals what Biden told her just before crucial debate with Trump that left her ‘angry’

    September 20, 2025
  • Former Obama official defends keeping Biden on ticket: ‘Presidency is more than just one man’

    July 10, 2024

Editor’s Pick

  • White House office tells agencies to apply ‘Gold Standard Science’ to depoliticize research, restore trust

    June 23, 2025
  • Trump says he will meet with Putin, Zelenskyy ‘if necessary’ amid negotiations to end war

    May 28, 2025
  • ‘DOGE caucus is dead,’ House Democrat declares

    May 14, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock