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Trump's CFPB rollback has cost Americans $18 billion, consumer groups say; And, Cigna sues Bristol Myers for alleged monopoly over blockbuster cancer drug. Subscribe to The Afternoon Docket for more: https://t.co/do7n4ibbPu https://t.co/3cKvOr5djK
Trump's CFPB rollback has cost Americans $18 billion, consumer groups say https://t.co/87YZ7WsPjL https://t.co/87YZ7WsPjL
Donald Trump gutted the Consumer Financial Protection Bureau, and it cost Americans $18 billion. Higher bank fees, dropped enforcement cases, and zero accountability. This is what deregulation looks like: a gift to big banks, paid for by working families. https://t.co/jEMzXgIqbq
Consumer groups estimate that the rollback of the Consumer Financial Protection Bureau (CFPB) under former President Donald Trump has cost Americans $18 billion. The reduction in regulatory enforcement has led to higher bank fees, fewer enforcement cases, and decreased accountability, disproportionately affecting working families. Additionally, Senator Elizabeth Warren highlighted cases of predatory practices by companies exploiting consumers, with the Trump administration accused of allowing such companies to avoid consequences. In a related legal development, Cigna has filed a lawsuit against Bristol Myers Squibb, alleging antitrust violations by the drugmaker for blocking generic versions of its multiple myeloma drug Pomalyst to maintain a monopoly.
