White House scales back plan to dismantle the CFPB but still wants to slash staff by two-thirds
The revised plan would leave the bureau with 556 workers and eliminate most supervision and enforcement posts, according to court filings.
- The Trump administration unveiled a revised plan to reduce the Consumer Financial Protection Bureau workforce to 556 employees, maintaining a larger agency than initially targeted but significantly smaller than under President Joe Biden.
- Facing a budgetary shortfall, the administration now targets fewer staff cuts than the roughly 90% reduction originally attempted after the Department of Government Efficiency, formerly led by Elon Musk, posted that the bureau should "RIP."
- Cat Farman, the CFPB's union president, called Russell Vought's insistence that the bureau can meet obligations "laughable," while The National Treasury Employees Union labeled the proposal "an insult to the intelligence of the judges."
- Roughly five out of six positions in the supervision division would be eliminated, while Enforcement staff would drop by roughly four-fifths; deputy director Geoffrey Gradler noted it is "mathematically impossible" to comply with the law without this restructuring.
- This plan faces legal challenges in a lawsuit against Vought, requiring federal judge approval to move forward because the CFPB has already stopped most work under President Trump's second term.
21 Articles
21 Articles
White House Wants to Cut CFPB Staff by Two-Thirds
The Trump administration has scaled back its plans to dismantle the Consumer Financial Protection Bureau, laying out a plan for an agency that would be significantly smaller than it was under Joe Biden but still bigger than the one President Trump envisioned right after he took office. Under the new...
The Trump administration has reduced its plans to dismantle the Consumer Financial Protection Bureau, and has put forward a plan for an agency that would be significantly smaller than the one that existed under President Joe Biden’s mandate, but even larger than President Donald Trump imagined just after assuming office. According to the new plan, the office’s workforce would be reduced from 1,700 authorized employees prior to Trump’s second ter…
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