Consumer Financial Protection Bureau

Rule Changes

Pursuing federal rulemaking on coerced debt

For decades, abusers have weaponized debt against their victims—opening credit cards in partners' names, forcing them to sign loan documents under threat, running up charges they never agreed to. Even after escaping the relationship, survivors remained legally responsible for debts they never chose to incur. Starting February 16, 2026, New York joins seven other states in helping survivors escape: creditors can no longer collect debts incurred through fraud, duress, or coercion, and survivors can dispute these debts with legal protection.

Updated May 29

Rule Changes

Operations severely curtailed, facing existential threat

The Consumer Financial Protection Bureau returned $21 billion to defrauded Americans over its 14-year existence. The agency that Elizabeth Warren built now faces major cuts (workforce down to 200 from 1,700, budget halved), though federal judges are blocking dismantling efforts.

Updated May 27

Rule Changes

Directed to revise ability-to-repay lending standards within 60 days

For 23 years, federal rules let Individual Taxpayer Identification Numbers stand in for Social Security numbers when opening a bank account. A Trump executive order now tells regulators to treat ITIN use as a potential fraud and trafficking red flag, moving the compliance burden onto banks.

Updated May 21