February 09, 2026

In Response to Warren, Kim, Waters Request, Independent Congressional Watchdog Releases Initial Report on Trump Administration's Dismantling of the Consumer Financial Protection Bureau

GAO reveals first comprehensive report on the effect of the Trump Administration’s attempted CFPB shutdown on the agency’s ability to fulfill its statutorily mandated functions

Read the Full Report

Washington, D.C. – Today, the Government Accountability Office (GAO) released its initial report on the Consumer Financial Protection Bureau’s (CFPB) “Status of Reorganization Efforts” in response to a request from U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, Andy Kim (D-NJ), and U.S. Representative Maxine Waters (CA-43), Ranking Member of the House Committee on Financial Services.

The independent watchdog agency’s report details the Trump Administration’s enforcement and regulatory rollbacks that are hurting consumers – including:

  • Dropping at least half of the CFPB’s enforcement actions
  • Attempting to fire 88% of the CFPB’s workforce, including nearly the entire supervision and enforcement divisions
  • Rescinding over 70 agency actions to protect consumers
  • Temporarily closing the CFPB headquarters and terminating all regional office leases

Following claims from the Trump Administration’s CFPB that the report’s information was biased and incorrect, the GAO wrote: “In accordance with our engagement process and agency protocols, we provided CFPB multiple opportunities to inform our work and ensure that we had complete and accurate information. CFPB did not take advantage of any opportunity to provide us with information it considered relevant to our work, only noting that ongoing litigation prevented it from doing so.”

Read the full report HERE.

Since the Trump Administration started its illegal attempt to shut down the CFPB one year ago, Ranking Member Warren and Democrats have been fighting back. Most recently, Senator Warren launched a probe into the auto lending industry as car repossessions skyrocket while the CFPB stands by. Last month, Senator Warren pressed Vought over the Administration’s failure to use CFPB tools to lower credit card costs as President Trump has claimed to want action to lower credit card costs.

At every turn, Congressional Democrats have gathered support for the legal challenges to the Trump Administration’s shut down attempt, including by filing multiple amicus briefs with wide congressional support during critical moments in the litigation process.

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