The Democratic senator said most of the estimated burden came from scrapped caps on credit card late fees and bank overdraft charges, with the rest tied to dropped enforcement and restitution cases.
U.S. Democratic Senator Elizabeth Warren released a report estimating that Trump administration changes to the CFPB (U.S. consumer finance watchdog) may have imposed up to $26.5 billion in additional costs on consumers. She said about $22.5 billion of that total came from scrapped caps on credit card late fees and bank overdraft fees, while roughly $4 billion was linked to dropped enforcement cases and consumer restitution agreements. The report frames the consumer impact as coming both from higher fees and from reduced regulatory pressure on financial firms.