HOUSTON — A high-stakes battle is unfolding in Washington over the future of the Consumer Financial Protection Bureau, the agency that protects Americans from fraud, scams, and financial abuse. Critics want to dismantle it, while experts warn its disappearance could leave families exposed.
The administration says the CFPB may run out of funding early next year. Its current funding source, the Federal Reserve, is being challenged as unlawful. Without it, the agency may no longer be able to operate.
The CFPB handles complaints about banks, credit cards, loans, and financial scams. It also provides essential financial education, from buying a car to planning for retirement…