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Guest Essay

By Eric Halperin

Mr. Halperin was the director of enforcement at the Consumer Financial Protection Bureau from 2021 to 2025.

The Consumer Financial Protection Bureau is turning into the Corporate Financial Protection Bureau. President Trump’s C.F.P.B. has not only ceased to pursue its mandate; it has taken the unprecedented step of unwinding prior victories — even in cases brought during Mr. Trump’s first term.

These moves, accompanied by the blatant corruption being encouraged by this administration, send a clear message: Lawbreaking is tolerated, and the interests of banks, tech companies and the richest financial companies in the world are paramount.

Thanks to Elon Musk’s foot soldiers from the so-called Department of Government Efficiency, the bureau’s Washington offices have gone dark. While the courts have so far thwarted efforts........

© The New York Times