The White House Council of Economic Advisers has escalated its assault on US consumer protection agencies, releasing a report that estimates regulatory burdens have cost consumers more than $237 billion. The findings come as part of a broader administration effort to roll back regulations across multiple sectors.

The report specifically targets the Consumer Financial Protection Bureau, which was established after the 2008 financial crisis to protect consumers from predatory financial practices. The administration argues that such regulatory bodies impose excessive compliance costs on businesses, ultimately harming consumers through higher prices and reduced economic growth.

Consumer advocacy groups have pushed back strongly against the findings, arguing that the CFPB has returned billions of dollars to consumers through enforcement actions and prevented widespread financial abuses. The debate highlights the ongoing tension between deregulation advocates who prioritize business efficiency and consumer advocates who emphasize the need for robust oversight to protect American households.