A Republican bill, recently introduced, could shut down the Consumer Protection Bureau’s public complaints website. The proposal says the CFPB may not make any information about a consumer complaint in such database available to the public without first verifying the accuracy of all facts alleged in such complaint.
The proposal on the complaints portal was included in the Financial Choice Act, but the bill died with the end of the 114th Congress in December 2016. The recently introduced bill is said to take action later this year.
In addition, president Trump is looking to remove Richard Cordray as director of the CFPB. It appears that Randy Neugebaurer, who tried to replace the CFPB’s director with a five-member board, is now the top contender to run the agency. As of today, president Trump has not reached a decision regarding the change of leadership of the Consumer Financial Protection Bureau.