A new report claims Trump-era changes quietly cost Americans $19 billion, and consumer advocates say it was avoidable

American consumers lost an estimated $19 billion in financial relief due to changes made at the Consumer Financial Protection Bureau during the Trump administration, according to a new report. As detailed by AP News, the estimate comes from the office of Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee and a longtime supporter of the agency.

The report ties that figure to consumer protections the bureau either abandoned or failed to defend, arguing the losses reflect money that would have remained with American families. Warren’s office says the pullback from enforcement and rulemaking had direct financial consequences for consumers across multiple areas.

Republicans and the Trump administration have argued that the CFPB overreached and needed to be scaled back. However, consumer advocates say the retreat has weakened protections at a significant cost, a stance that has featured in other recent political debates about national priorities while consumer advocates say the retreat has weakened protections at a significant cost.

Consumer advocates point to abandoned rules and dropped enforcement

One of the largest losses identified in the report stems from the bureau’s decision not to challenge a federal court ruling that blocked a cap on credit card late fees. CFPB estimates at the time suggested the rule would have saved consumers about $10 billion if it had taken effect.

Another major source of lost relief involved overdraft fees. A rule finalized in 2024 to limit those fees was overturned last year by a Republican-led Congress. The bureau previously estimated that reversal alone costs consumers roughly $5 billion annually.

The report also highlights the bureau’s retreat from enforcement actions after White House budget director Russell Vought became acting director in February 2025 following the prior director’s resignation. Under Vought, the CFPB dismissed several major lawsuits, resulting in an estimated $4 billion in lost consumer relief.

Among the dropped cases was a $2 billion lawsuit filed against Capital One in January 2025, which alleged the bank misrepresented interest rates paid on savings accounts. The bureau also dismissed an $870 million lawsuit filed in December 2024 against Early Warning Systems, the company that operates Zelle, over allegations it failed to adequately protect consumers from fraud.

Beyond high-profile cases, the report says, everyday consumers have also been affected. The CFPB’s complaint database, which helps mediate disputes between consumers and financial companies, saw a sharp decline in outcomes. This reflects broader concerns over government oversight disputes.

Chuck Bell, advocacy program director at Consumer Reports, said the bureau remains operational in name but has been severely weakened. Consumer Reports released its own analysis that reached conclusions similar to those outlined by Warren’s office.

The Government Accountability Office also reported difficulties tracking the administration’s restructuring of the bureau, citing a lack of cooperation from both the White House and CFPB leadership. The GAO relied largely on public records to conclude that dozens of enforcement actions were canceled and consumer protection rules rolled back.

In response, CFPB chief legal officer and deputy director Mark Paoletta called the GAO’s report biased and flawed, though he did not dispute its specific findings, instead arguing the agency was working with incomplete information.