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A new report from the White House Council of Economic Advisers argued that federal consumer-finance regulations have significantly increased borrowing costs for Americans, placing renewed scrutiny on the CFPB as policymakers debate its future.
The February 2026 analysis estimated the CFPB has cost consumers between $237 billion and $369 billion since its creation in 2011, largely through higher loan prices and reduced access to credit. The report said increased borrowing expenses alone account for $222 billion to $350 billion, covering mortgages, auto loans and credit cards.
Breaking down the impact, the study estimated borrowers paid an additional $116–$183 billion in mortgage costs, $32–$51 billion in auto loans and $74–$116 billion in credit card costs during the period. By comparison, the CFPB has reported returning about $21 billion to consumers through enforcement actions and settlements.
The report attributed the higher costs to compliance requirements, liability risk and enforcement pressure, which it said lenders pass along through higher interest rates and fewer loan approvals. In 2024 alone, the combined annual cost of credit tied to CFPB oversight was estimated at $24–$38 billion.
Researchers also cited administrative burden, estimating annual paperwork requirements exceed 29 million hours, equivalent to more than 14,000 full-time workers dedicated solely to compliance documentation.
Supporters of the Bureau argued its rules protect borrowers from abusive practices, while critics said they restrict credit availability. The report is likely to intensify debate in Washington as the Trump administration evaluates the scope and future structure of the CFPB.
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