The CFPB has always been underpowered & under resourced. I reported malpractice by the finance industry many times and they could never fix a single problem while banks and CUs got away with murder in broad daylight. But it’s still good to have a watchdog around even if it’s toothless. If anything just to collect and publicize abuses, and advise consumers.

Now the Emperor of DOGE (Elon) is putting that toothless (yet mildly helpful) dog down.

The cherry on top: data brokers can keep selling your social security number, says new CFPB chief. This timing seems strategic. Recall that Trump overturned Obama’s policy that required ISPs to obtain consumer’s consent before selling their private data. I see a pattern.

Do you still want to participate in a banking system that exploits consumers? Consider these actions:

1. Draw down your bank balances by mostly cashing out. Keep the balance low.
2. Ask employers to pay you by cash or paper check.
3. Cash the payroll check at the issuing bank rather than deposit it. Bypass your bank. (Note that some Casinos give perks for cashing payroll checks in their establishment)
4. Stop using billpay, which enables an intermediary to collect more data on you (of course, because you have no protection from data abuses). Send paper checks in the mail with your own postage stamps. Unlike billpay intermediaries, USPS will not peek inside the envelope and pawn your data.
5. Switch to a bank or CU that is not a KYC overachiever (this may be impossible – most banks demand more data on you than legally required)
6. Paycheck too big for this? You’re overemployed. Switch to part-time and quit buying silly tech garbage. Instead, pull your tech out of the dumpers, hack it and liberate it.