Consumer Financial Protection Bureau Ordered to Halt Oversight Activities
- The Trump administration ordered around 1,700 staff at the Consumer Financial Protection Bureau to stay home, closing the office from Monday through Friday, as reported by The Washington Post, USA Today, and CNBC.
- Russell Vought, the acting head of the Bureau, instructed staff to cease supervision and examination activities, stating that the agency's budget was excessive and unnecessary.
- Lawmakers are divided on the shutdown, with Democrats criticizing the move and Republicans supporting it, highlighting the agency's role in returning over $21 billion to families cheated by financial institutions.
- Despite Trump's executive orders, the CFPB cannot be shut down without congressional action, as it was established by Congress and is deemed necessary for consumer protection.
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Coverage Details
Total News Sources0
Leaning Left35Leaning Right19Center88Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 25%
C 62%
13%
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