The Trump Administration’s Plan for Protecting Consumers? Politely Ask Companies to Behave.

Reporting Highlights Weakened Watchdog: After failing to dismantle the CFPB, Russell Vought and his allies have reshaped the bureau into an industry-friendly, less aggressive regulator. Face Value: The CFPB’s ask-nicely approach faced its first test when a buzzy startup failed its customers, but the CFPB took the company’s word that it fixed its problems. The New Abnormal: Current and former CFPB staffers say the bureau’s light-touch approach and reliance on political aides breaks from precedent and leaves consumers vulnerable. These highlights were written by the reporters and editors who worked on this story. In mid-July testimony before Congress, Russell Vought boasted that, as the acting head of the Consumer Financial Protection Bureau, he’d refashioned the agency’s approach to pursuin