Read the Full Report

This week, 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 Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, Congressman Bill Foster (D-IL), Ranking Member of the Subcommittee on Financial Institutions, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, as well as a request from U.S. Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Senator Andy Kim (D-NJ).

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 Waters and Democrats have led several efforts to fight back against the president’s unlawful actions against the bureau including by filing multiple amicus briefs with wide congressional support during critical moments in the litigation process.

Previous Democratic Amicus Briefs in Support of the CFPB:

• On February 8, 2025, Ranking Member Waters, Jeffries, Neguse and Raskin, led over 200 House Democrats in filing an Amicus Brief urging the U.S. District Court to block the illegal Trump, Musk CFPB Shutdown.
  
  
• On May 9, 2025, Ranking Member Waters, Jeffries, Schumer and Warren led 233 former and current Members of Congress, and the entire Senate Democratic Caucus in filing an Amicus Brief defending consumers and the Consumer Financial Protection Bureau from the Trump-Musk assault.
  
  
• On October 7, 2025, Ranking Member Waters, Schumer and Warren, led a congressional Amicus Brief urging the D.C. Circuit to hear the case on the Trump Administration’s attempt to dismantle the CFPB which has returned $21 billion to consumers.
  
  
• On December 16, 2025, Ranking Member Waters, and Elizabeth Warren, joined by Dodd-Frank authors and Committee Democrats in filing an Amicus Brief challenging Trump’s illegal efforts to block funding for the CFPB.
  
  

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