US EditionTrump administration moves to shut down Consumer Financial Protection Bureau
- The Trump administration has ordered the Consumer Financial Protection Bureau to cease all work tasks, as instructed by Acting Director Russell Vought in an email issued Monday.
- The CFPB has returned $19.7 billion to 195 million people since its inception in 2012, according to its latest financial report.
- Elon Musk tweeted "CFPB RIP" after gaining access to the bureau's headquarters, indicating a move to curtail its activities.
- The National Treasury Employees Union filed lawsuits seeking to prevent Vought from freezing the CFPB's work and to allow employees access to their records.
13 Articles
13 Articles
'We're about to get annihilated': Musk, DOGE descend on consumer bureau
(The Hill) - The Trump administration is moving rapidly to gut the Consumer Financial Protection Bureau (CFPB), halting the agency’s work, cutting off its funding and shutting down its headquarters. The push is not unlike the effort launched in the early years of President Trump’s first term to defang the agency, which has faced staunch opposition from Republicans throughout its brief existence. However, as Elon Musk’s Department of Government…
Latest to Draw DOGE Scrutiny: Consumer Financial Protection Bureau
In its latest frontal attack on the federal bureaucracy, the Trump administration is moving to drastically downsize the Consumer Financial Protection Bureau. The agency, created during the Obama administration, has been temporarily rendered ineffective, as a Trump appointee ordered its employees to stop working Sunday. Created by a 2010 act of Congress as an agency, the CFPB has long been accused by detractors of a lack of accountability, politi…
Trump administration moves to shut down Consumer Financial Protection Bureau
WASHINGTON (NEXSTAR) - The Trump administration has taken steps to shutter the Consumer Financial Protection Bureau (CFPB), ordering employees to halt nearly all work late Saturday and closing the agency’s Washington office for the week in what it calls an effort to cut federal spending. Billionaire entrepreneur Elon Musk appeared to celebrate the move, tweeting Friday, “CFPB RIP.” Congress established the CFPB in the aftermath of the 2008 finan…
Trump team aims to shut consumer finance watchdog
What happened The Trump White House Sunday told all 1,700 employees at the Consumer Financial Protection Bureau that the Washington, D.C., headquarters was closed for the week, and employees who went to the office to retrieve their laptops or other belongings were reportedly turned away. President Donald Trump on Friday named Office of Management and Budget Director Russell Vought acting head of the CFPB.On Saturday, Voght ordered "all employees…
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