July 16 (UPI) — A report from the Senate Banking Committee said Thursday that the Trump administration’s overhaul of the Consumer Financial Protection Bureau has cost consumers $26.5 billion.

Sen. Elizabeth Warren, D-Mass., shared the report from the Banking Committee ahead of Director of the Office of Management and Budget Russ Vought’s hearing before the committee Thursday. It cited the rescission of the credit card late fee rule and overdraft fee rule that were instituted in 2024.

Earlier in the year the committee reported that the Trump administration’s changes to the CFPB cost consumers $19 billion in 2025, including $15 billion from the rescission of the two fee rules and $4 billion from dropped enforcement actions.

“Ahead of today’s hearing with Acting Director Vought, Senator Elizabeth Warren [D-Mass.], Ranking Member of the Committee, sent Vought a letter requesting answers to questions in many congressional oversight letters the CFPB has blatantly ignored under his leadership,” a press release from the committee reads.

The CFPB, under Vought, has dropped more than three dozen enforcement actions and settlements including some that would have sent payments to consumers, totalling about $4 billion, the report says.

On Thursday, Vought is expected to be asked about the rescissions of fee protection rules as well as the allegation that the CFPB removed 15 years of consumer data from its website.

The CFPB is one of many federal agencies that has experienced steep staff reductions and the elimination of Biden administration rules under President Donald Trump.

The Senate is set to consider Trump’s nomination of former CFPB deputy director Brian Johnson as director of the CFPB.