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Acting CFPB director Russell Vought initiated a reduction in force, issuing termination notices to approximately 90% of the agency's 1,500 employees. This follows a federal judge's ruling allowing some terminations and an internal memo shifting agency priorities away from enforcement and supervision towards state-level actions. The move, part of a broader Trump administration effort to reduce government spending, has drawn sharp criticism from Senator Elizabeth Warren, who called it an assault on consumers.

Prepared by Christopher Adams and reviewed by editorial team.