CFPB Wins Broad Approval in New National Consumer Protection Survey
A new national poll released by the Center for Responsible Lending (CRL) and Americans for Financial Reform (AFR) indicates that the Consumer Financial Protection Bureau (CFPB) continues to receive broad public support across the political spectrum, even as lawmakers debate the agency’s future.
Published ahead of acting CFPB Director Russell Vought’s congressional testimony, the survey found that four out of five likely U.S. midterm voters support the consumer watchdog. According to the organizations behind the poll, respondents also opposed efforts by President Donald Trump and Congress to reduce or eliminate the agency’s role in overseeing consumer financial protections.
The survey was conducted by bipartisan polling firms Lake Research Partners and Chesapeake Beach Consulting. In addition to measuring public opinion on the CFPB itself, researchers asked voters about several consumer protection measures related to banking fees, payment applications, and financial privacy.
Poll Shows Broad Support for Consumer Financial Protections
The survey found that 80% of likely midterm voters support the CFPB after hearing a brief explanation of its purpose and responsibilities. Support extended across political affiliations, with 77% of Republican voters and 69% of independent voters expressing favorable views of the agency.
Respondents also overwhelmingly endorsed government oversight of financial services. According to the poll, 92% of voters believe financial products and services should be regulated to help ensure consumers are treated fairly.
The findings suggest that support for consumer financial protections remains widespread across political affiliations, particularly on issues affecting everyday banking and personal finances.
Voters Back Limits on Common Banking Fees
Beyond general support for the CFPB, the poll measured opinions on several consumer protection rules that have been rolled back or overturned during the current Trump administration.
More than four in five voters supported limiting credit card late fees to $8 and overdraft fees to $5. Both proposals received 82% overall support, including backing from more than three-quarters of Republican respondents.
The survey also found strong support for increased oversight of digital payment platforms. Approximately 81% of respondents favored regulating services such as Venmo, PayPal, and Cash App to prevent practices that could harm consumers. Among Republican voters, support for payment app regulation reached 80%.
Financial privacy also emerged as a significant concern. Nine out of ten respondents said they support preventing financial companies from selling consumers’ personal information, making it one of the strongest areas of agreement identified in the survey.
Consumer Advocacy Groups Urge Continued CFPB Funding
Consumer advocacy organizations said the polling results demonstrate that voters continue to value an independent agency dedicated to protecting consumers in the financial marketplace.
Mike Calhoun, president of the Center for Responsible Lending, said the survey shows a clear disconnect between public opinion and efforts to weaken the CFPB.
He argued that the agency’s role remains particularly important as many households continue to face financial pressures related to housing costs and other essential expenses. Calhoun also called on Congress to pass the Protecting American Consumers Act, legislation that would provide automatic and stable funding for the CFPB.
Tom Feltner, associate director of consumer policy at Americans for Financial Reform, echoed those concerns. He said the polling suggests voters across party lines continue to support strong consumer protections, including safeguards against excessive fees, stronger privacy protections, and oversight intended to prevent harmful financial practices.
Survey Released Before Congressional Hearing
The release of the poll coincides with acting CFPB Director Russell Vought’s scheduled congressional testimony, where lawmakers are expected to examine the agency’s operations, priorities, and future direction.
The CFPB has remained a frequent subject of political debate since its creation following the 2008 financial crisis. Supporters argue the agency plays a critical role in enforcing consumer financial laws and overseeing banks, lenders, and other financial institutions. Critics, however, have questioned its regulatory authority, funding structure, and overall scope.
The newly released polling adds another data point to that ongoing debate by suggesting that many likely voters continue to favor maintaining federal consumer financial protections, including oversight of banking practices, payment technologies, and personal financial data.
According to CRL and AFR, the survey indicates that consumer protection remains a bipartisan issue for many Americans, even as policymakers continue to debate the CFPB’s future role in the U.S. financial system.
