As of the writing of this article, President Donald Trump has been in office for two months. During his candidacy, he vowed to roll back ­Dodd-Frank and the financial services regulations he claims are hurting economic growth. While several proposals are now floating through Congress which look to alter core components of the ­Dodd-Frank law, the intended target by far is the ­elimination and/or restructuring of the Consumer Financial Protection Bureau (CFPB or bureau).

The Trump administration, however, has been noticeably mum on the future of the bureau, which during its tenure has been an extremely polarizing agency. Consumer advocates applaud its work and its mission to establish a fair and transparent financial marketplace that empowers and educates consumers regarding their financial decisions, while at the same time enforcing consumer financial protection laws against those companies and industries that pose risk and harm to consumers. Industry, however, sees the CFPB as an unchecked and rogue agency that fails to recognize core constitutional principles like the right to due process and instead relies almost exclusively on its vague or undefined enforcement authority to practice regulation by enforcement. This, industry says, has resulted in less credit options for those consumers the CFPB has been charged to protect.

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