Trump Administration Gutts Consumer Protection Agency
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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.
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.
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