Episode Details

What is the CFPB really costing American consumers? Three reports have recently been released from the U.S. Government Accountability Office (GAO), the U.S. Senate Committee on Banking, Housing, & Urban Affairs, and The White House Council of Economic Advisors. These reports had dueling narratives about what the impact and cost of the CFPB has been on the American consumer. The report from GAO has multiple charts outlining actions and events that have occurred at the CFPB over the last year. The Senate report tries to make the case that the CFPB has returned upwards of $30+ billion to consumers. The problem is the analysis is extremely flawed. The White House report effectively shows how much regulations and oversight from the CFPB have cost consumers and driven up the cost of obtaining financing. The costs go well over $200+ billion. The report also highlights the massive concerns around politicization at the CFPB in recent years. What is the real cost and impact of the CFPB? You decide! Links to all three reports are included below.  

Link: https://www.gao.gov/products/gao-26-108448

Link: https://www.gao.gov/assets/gao-26-108448.pdf

Link: https://www.banking.senate.gov/newsroom/minority/new-report-finds-trumps-attack-on-the-cfpb-has-cost-americans-19-billion-in-one-year-alone

Link: https://www.banking.senate.gov/imo/media/doc/cfpb_year_in_review_report.pdf

Link: https://www.whitehouse.gov/research/2026/02/estimating-the-cost-of-the-consumer-financial-protection-bureau-to-consumers/