Trump demolishes the consumer protection agency

• Trump crippled the Consumer Financial Protection Bureau (CFPB), stripping it of its ability to defend consumers from ripoffs by banks, credit card companies, insurance companies, payday lenders and other financial institutions.  Trump moved to fire 1,500 of 1,700 employees.

• Trump’s attempt to hobble—or outright dismantle—agencies created by Congress was undercut when a federal appeals court only partially sided with him. The Court ruled that no mass firings could happen, only firings after an individual review. But when Trump ignored that ruling, and did a mass firing, a federal court put those on hold. 

Trump strips two consumer protections at the same time: overdraft fees and credit card charge limits

• Trump signed legislation to remove the $5 cap on bank overdraft fees. The cap, which was set to begin in October 2025, are aimed at protecting consumers from being overcharged by banks.

• By removing the $5 cap, Trump harms low-income families who rely on overdrafts as a form of emergency credit during difficult months.

• Trump gutted a CFPB rule limiting credit card late fees to $8 by siding with big banks who went to a Texas court to stop this vital consumer protection that saved consumers tens of millions of dollars.  

Trump exposes consumers to abuses of power, greed, and corruption

• Trump freed major financial firms like Capital One and the mortgage giant Rocket Homes from the consequences of significant alleged wrongdoing. He froze dozens of investigations into alleged corporate misconduct at the CFPB, halting progress on probes involving companies that serve tens of millions of Americans.

• Trump's dismantling of the Consumer Financial Protection Bureau resulted in nine lawsuits that the bureau had brought on behalf of consumers being dropped. Consumer advocates are concerned that abandoning these cases could weaken enforcement of consumer protection laws and embolden companies to engage in harmful practices without consequence.

• Trump allowed Musk access to the CFPB shortly after Musk publicly called for its elimination—benefiting major Trump donors like Meta and Marc Andreessen, who had financial or legal interests in weakening the bureau's oversight. Meta donated $1 million to Trump’s inauguration.

• Trump dismantled the CFPB as Musk’s company X announced a mobile payments venture that would fall under CFPB regulation—raising concerns about Musk influencing policy to sideline oversight of his own business interests.

Trump price hikes to hit wallets

• Trump’s tariffs will eventually cause prices to go up, but in the meantime, some companies may be using the news to increase prices early. Tariffs on Chinese goods could reach up to 125%, potentially raising $2 billion daily, but price hikes won’t be immediate due to customs rules delaying the impact on current imports. Businesses raising prices now may be using tariffs as a cover, while long-term effects could include slower growth, inflation, and reduced import volumes leading to higher consumer prices.

Trump's price hikes stem from high import taxes that companies are expected to pass on to consumers.

• Because of Trump's tariffs, everyday goods like groceries, clothing, and electronics are expected to cost more. For example, a PlayStation 5 could jump from $499 to over $1,000, and a toddler clothing set might rise from $24 to nearly $36.

• Trump's tariffs will drive inflation and increase household costs. Yale researchers estimate an average $3,800 hit to U.S. families each year. Meanwhile, major companies like Walmart and Delta have pulled back earnings forecasts due to uncertainty. Economic analysts, including the Federal Reserve Chair, expect these changes to slow growth and increase the risk of a recession.

• If Trump's tariffs continue, imported goods Americans rely on—like coffee, fruit, car parts, and household items—will all be affected. With few alternatives made domestically, prices are likely to rise significantly. The S&P 500 has already dropped 10% in response to the tariff news, and economists at Goldman Sachs and J.P. Morgan now say a recession is more likely.

Trump attacks program that makes high-speed Internet available to rural and inner-city communities. 

• Trump attacked a program that makes high-speed Internet available to rural and inner-city communities that big Internet providers don’t find profitable. Saying that the program, established by Congress is “racist” - even though  the law barely mentions race and includes a non-discrimination clause - Trump denounced a program that is vital to rural communities across the nation.