Summary
New CFPB acting head Russell Vought issued directives halting most bureau activities, including supervision, enforcement, and public communications.
He also suspended pending rules and declined additional funding, calling the agency’s $711.6 million balance “excessive.” Sen. Elizabeth Warren condemned the move as favoring big banks.
The CFPB, created in 2011 under the Dodd-Frank Act to protect consumers and hold corporations accountable, saw its website and social media accounts go offline after Musk’s “CFPB RIP” post.
I’m wondering when to expect my breach notification letter from the federal government offering a free year of Lifelock.
They will get rid of the notifications, it’s just a free for all to anyone who can pay or kiss Trump ass now.