Mallory SoRelle, an assistant professor at Duke’s Sanford School of Public Policy, warns that the new interim director of the Consumer Financial Protection Bureau (CFPB) has put key consumer protections on hold by effectively halting the agency’s enforcement and oversight efforts. She highlights that this move delays a popular rule removing medical debt from credit reports, benefiting over 15 million Americans. SoRelle emphasizes, “From its inception, the CFPB was designed to protect consumers, making it unique among federal financial regulatory agencies. Historically, U.S. financial regulators were designed primarily to keep banks stable and profitable, rather than to protect consumers.”
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