Senator Elizabeth Warren has released a report estimating that changes made under President Donald Trump’s overhaul of the Consumer Financial Protection Bureau (CFPB) have cost Americans up to $26.5 billion. The report specifically highlights actions taken under acting CFPB Director Russell Vought, including the rollback of key regulations capping credit card late fees and overdraft charges. These repealed rules are responsible for $22.5 billion of the total consumer costs, according to the analysis.

The remaining $4 billion in estimated consumer costs stems from the CFPB dropping multiple enforcement actions and settlements that would have provided direct consumer relief. Since the Trump administration assumed control of the agency last year, it has both reduced staff and significantly narrowed its focus, abandoning or easing regulations enacted during the Biden administration. These moves have divided opinion, with Republicans arguing the changes curb regulatory overreach, while Democrats, led by Warren, warn that they harm consumer protections.

Among specific policy changes, Warren’s report attributes an estimated $15 billion in consumer costs to the decision to abandon the credit card late fee cap, a rule previously expected to save consumers approximately $10 billion annually by limiting fees to $8. Additionally, the withdrawal of an overdraft fee rule, which would have capped fees at $5, is estimated to cost consumers $7.5 billion. The report also points to the termination of over three dozen enforcement actions and consent orders that would have resulted in roughly $4 billion in consumer repayments.

These revelations come as Russell Vought faces a Senate oversight hearing, where lawmakers are scrutinizing the CFPB's recent actions, including the removal of 15 years of consumer data from the agency website. The hearing also coincides with consideration of President Trump’s nomination of Brian Johnson, a former CFPB deputy and Capital One executive, to lead the bureau full-time. Senator Warren has raised concerns over transparency and responsiveness from the agency under its current leadership.