Semi-Annual Report, October 2024 - December 2025
The Consumer Financial Protection Bureau is pleased to present our Semi-Annual Report to Congress for the period beginning October 1, 2024 and ending December 31, 2025, except where otherwise noted.
Message from Acting Director
This Report represents the tail-end of the work of the Consumer Financial Protection Bureau under the leadership of the former Director Rohit Chopra, up until his firing by President Trump, and the work under my leadership through the end of 2025. This past year was as transformative for the Bureau as it was for the country. Instead of further growing an already over-bloated behemoth, intent on crushing entities, imposing costs on consumers and reducing their choices, the CFPB has been working to reverse the prior leadership’s abuses and overreach of its statutory mandates. We adopted measures to dramatically increase efficiency and reduce unnecessary spending within the Bureau and to promote policies that benefit consumers. We are making great progress implementing the President’s agenda.
While former Director Chopra did little to implement the President’s anti-DEI agenda, under my leadership, the CFPB swiftly terminated DEI-related performance requirements and trainings; disbanded employee resource groups and DEI-related committees; removed DEI-related contract terms and enforcement from all active contracts and solicitations; and terminated budgeted line items associated with DEI. The CFPB’s contracts now require that the contractor certifies that it does not operate any programs promoting DEI that violate any applicable Federal anti-discrimination laws. Relatedly, in the Fair Lending arena, the Bureau no longer uses disparate impact in its supervision and enforcement and no longer consults with financial institutions regarding special purpose credit programs that rely on race, national origin, or sex. Instead, we prioritize combatting intentional discrimination and debanking.
The CFPB is also focused on identifying and remedying tangible harms that are clearly within the CFPB’s statutory authority, and on collaborative efforts with entities to resolve problems so that there are measurable benefits to consumers. The CFPB closed out 76% of its Supervisory Actions (nearly 1,500) and a substantial majority of its outstanding open examinations. Supervision’s examinations are now targeted and significantly scaled down, focusing on the Bureau’s priorities. In Enforcement, we closed numerous investigations, terminated or modified over twenty final orders, and dismissed or withdrew from nearly twenty actions filed under prior leadership that represented an expansion of the Bureau’s mandate. The Bureau is continuing only those matters that align with its new priorities, and in these court actions, it has obtained favorable results for consumers, especially service members and their families and veterans.
Finally, we executed on a robust deregulatory agenda to reverse regulatory overreach, reduce unjustified regulatory burdens, and streamline and clarify existing regulations. The CFPB withdrew over a dozen final and proposed rules and nearly 70 guidance documents. It also initiated rulemakings to reconsider the CFPB’s Personal Financial Data Rights rule and the Small Business Lending Rule and commenced a Regulation B rulemaking to clarify obligations under the Equal Credit Opportunity Act.