- On Sunday, CFPB staff received an email telling them not to come to the office next week.
- Instructions were directed to workers in the capital to work from another notice.
- The new CFPB, Russell Vogue, suspended the agency’s work on Saturday.
The main federal consumer situation may be the next goal of President Donald Trump’s business schedule to reduce costs.
On Sunday, employees of the Financial Consumer Protection Office received an email from Adam Martinez, the agency’s chief operational officer, who told the capital to work after next week.
“The DC headquarters building will be closed this week (2/10-2/14). Employees and contractors must work remotely unless they are directed otherwise from the acting manager or their representative.”
It is not clear when, at all, the DC headquarters will be reopened. The White House did not immediately respond to a request for suspension from BI.
Trump Rohit Chopra, CFPB director under the leadership of former President Joe Biden, launched on February 1. Treasury Secretary, Scott Bessin, took over the role of the Agency’s director of the agency until he took the position of Director of the Department and Budget, Russell Fion, this role on Saturday evening.
CFPB was created in 2011 to protect consumers from financial crises. The implementation and supervision procedures for banks and adult lenders have taken, as they return billions of dollars to consumers. Vogue has ordered employees to stop almost all agency’s work in an email on Saturday, including their supervisory activities that guarantee that companies are compatible with the law.
A CFPB BI employee told it that almost all the agency’s work was stopped.
Vogue also wrote in a publication on X on Saturday that CFPB “will not take the next clouds of unstable financing because it is not” reasonably necessary “to carry out his duties.”
CFPB receives its funding from the Federal Reserve and not through the annual credits of Congress, which was criticized by many Republican party legislators who said that Congress should oversee the agency’s financing.
“This tap, which has long been contributing to the ability to be accountable to CFPB, is now stopped,” said Fior.
Adam Rost, the director of financial services at the Union of Non -Pur Twisted in America, told that BI had been that the closing of CFPB will have “real repercussions of the pocket book for people.” The agency had rules for forming open drawing fees and removing medical debts from credit reports, which are now suspended.
Elon Musk, leader of the Doug Trump Committee in charge of government waste cutting, has targeted a group of agencies over the past two weeks. A temporary federal judge from the Trump administration was prevented from putting more than 2000 workers at the United States Agency for International Development on a paid vacation as the administration took steps to close the agency.
“Rip CFPB”, MUSK wrote on X last week.
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