Russ Vought orders Consumer Financial Protection Bureau to stop work
Trump administration orders Saturday night Consumer Financial Protection Bureauan independent government agency designed to protect consumers from corporate fraud and scams to prevent most of its work and is in an ongoing overhaul of the federal bureaucracy.
In an email to CFPB employees on Saturday, Russ Vorge – New Confirmed Director of the Office of Management and Budget and the CFPB’s acting head – Instructing employees not to publish any proposed or formal rules, to stop staying in the investigation, rather than opening up new investigations, to cease all stakeholders’ interactions, and to waive public communications, etc. . Vought wrote in an email obtained by CBS News that he was using the directive “as a loyal steward of the Bureau’s resources” and was committed to enforcing Mr. Trump’s policies.
This development was made in Elon Musk Obtain access Go to CFPB and start a thorough review. Two sources who are directly familiar with the comment told CBS News that Doge representatives have gained access to internal systems in recent days, including the agency’s staff volumes and financial records. According to the federal union representing some of the CFPB employees, Musk representatives were added to the agency’s email directory and were “discovered in the CFPB building” last week.
Mr. Trump has used Musk to address the efficiency of the administration and has cut waste in the overhaul of the federal bureaucracy that has begun to take shape in recent weeks, prompting a series of directives to be triggered in some cases in the federal government and beyond. Wide confusion. The president takes office.
Andrew Hanik/AP
On Friday, Musk Posted “RIP CFPB” on his social media platform X and 404 error messages on the agency’s website began to appear.
Mr. Trump Turn on fire Last week, former CFPB director Rohit Chopra. Two government sources said the president will involve the acting director of the CFPB and know his additional role. The Senate, who was partisan confirmed on Thursday, served as OMB director in the first Trump administration and was involved in writing the Heritage Foundation’s 2025 project.
Vought said in a social media article on Saturday that the CFPB will “not get the next unlisted fund from the Fed,” saying the agency’s current balance is “excessive in the current fiscal environment.”
“This pillar has long led to the irresponsibility of the CFPB and has now been shut down,” Vought said.
The CFPB was officially started in 2011 by former President Barack Obama, part of the Dodd-Frank Act. Senator Elizabeth Warren, who is crucial to its creation, posted on social media on Sunday that the agency returned more than $21 billion to consumers, while Vought made the “big banks and giant companies for The fraud family provides a green light.”
