In a new insight, Director of Financial Services Policy Thomas Kingsley walks through how the new Trump Administration has made progress unraveling the CFPB – and offers a word of caution about dismantling its regulatory authority too quickly.

Kingsley concludes:

For years Republicans and industry have railed against an activist CFPB ever expanding its own powers and responsibilities. The CFPB can and should be unwound, but moving fast and breaking things necessarily entails breaking things. Over the past two decades, the CFPB has supplanted a significant body of existing consumer protections at other federal regulators. Halting operations at the CFPB without a plan for replacing these protections is not without risks to both consumers and the administration.

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