Dozens of Quiet Corporate Pardons Show Lawbreakers’ Influence with Trump Enforcers
May 27, 2025 | WASHINGTON, D.C. — A new memo from the Consumer Federation of America (CFA) and the Student Borrower Protection Center (SBPC) reveals that the Trump-Vought Consumer Financial Protection Bureau (CFPB) has quietly dismissed at least 21 public enforcement actions, many involving egregious violations by repeat corporate offenders. Even more troubling, the agency is seeking to overturn or reduce penalties in at least four already settled cases, letting lawbreaking companies off the hook and stripping consumers of compensation they are legally owed. These actions suggest corporate lawbreakers’ continued sway with Trump Administration law enforcement officials.
A copy of the new CFA-SBPC memo on the Trump/Vought CFPB’s quiet corporate pardons is available here.
As former CFPB Enforcement Director Eric Halperin recounted in a guest essay in the New York Times, “These moves, accompanied by the blatant corruption being encouraged by this administration, send a clear message: Lawbreaking is tolerated, and the interests of banks, tech companies, and the richest financial companies in the world are paramount.”
The document outlines a sweeping rollback of accountability, with the Trump CFPB abandoning suits against some of the country’s most powerful financial actors. These actions once promised billions in redress to consumers but are now being walked back without explanation.
Consumer advocates warn this unprecedented rollback not only deprives Americans of hard-earned restitution but also sets a dangerous precedent: financial firms can now evade punishment by simply waiting out regulatory leadership changes.
The memo aims to memorialize the full sweep of public CFPB enforcement actions before decades of consumer progress is undone.
Further Reading
SBPC and CFA memo issue “rap sheet” on Corporate Repeat Offenders Pardoned by the Trump/Vought CFPB: Seven Repeat Offenders Pardoned by the Trump Administration Have Paid More Than $7 Billion for Their Illegal Activities as a Result of CFPB and Other Regulators’ Enforcement Actions
SBPC and CFA memo identifying 87 congressionally imposed mandates Director Vought is refusing to perform: Advocates Applaud Lawsuits Challenging Trump and Vought’s Corrupt and Unlawful Attempt to “Delete” Consumer Watchdog Agency, CFPB
SBPC press release on CFPB Student Loan Ombudsman firing: Trump, Vought, and Musk Team Up to Abandon Students and Borrowers, Illegally Fire Top Student Loan Industry Watchdog
CFA press release on CFPB workers ordered to stop working: CFA Statement in Response to Announcement That the CFPB Will Halt Supervisory Work
SBPC memo on Twitter/X payments: Twitter/X Payments: Public Corruption Poses Risks for Consumers and Competition
SBPC blog on Musk and DOGE illegal attempt to “delete” CFPB: Elon and DOGE Are Attempting To Illegally “Delete” the CFPB, Here Is Why This Matters To Student Loan Borrower
SBPC press release on CFPB Director Chopra’s firing: CFPB Director Chopra’s Firing Tops Oligarchs’ Wishlist, Foreshadows Swing in Consumer Agency Priorities to Benefit Big Banks and Billionaires
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About Consumer Federation of America
Consumer Federation of America is an association of non-profit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education.
Learn more at consumerfed.org or follow CFA on Twitter at @ConsumerFed.
About Student Borrower Protection Center
Student Borrower Protection Center (SBPC) is a nonprofit organization focused on eliminating the burden of student debt for millions of Americans. We engage in advocacy, policymaking, and litigation strategy to rein in industry abuses, protect borrowers’ rights, and advance racial and economic justice.
Learn more at protectborrowers.org or follow SBPC on Twitter @theSBPC.