WASHINGTON–As part of the Trump administration’s ongoing effort to dismantle it, the Consumer Financial Protection Bureau (CFPB) said it plans to furlough most of its staff on Dec. 31 and transfer its remaining litigation to the Justice Department
The Bureau’s acting director, Russ Vought, Acting Director Russ Vought has sought to terminate most of the bureau’s staff and said he does not intend to ask the Federal Reserve for the bureau’s next round of appropriations, with the agency expected to run out of available funding sometime next year. The CFPB reportedly told staff last week that they will be furloughed at the end of the year.
Vought has previously sought to terminate most of CFPB’s staff, prompting a lawsuit from the National Treasury Employees Union, which represents bureau employees. That lawsuit is ongoing.
Legal Cases Being Moved
Meanwhile, Separately, the CFPB said it is seeking to move all remaining enforcement cases and litigation to the Department of Justice due to the agency’s dwindling financial resources,
Since its creation in 2008, the CFPB has returned more than $21 billion to harmed consumers.
Separately, the CFPB said it is seeking to move all remaining enforcement cases and litigation to the Department of Justice due to the agency’s dwindling financial resources,
Since its creation in 2008, the CFPB has returned more than $21 billion to harmed consumers.
Union Pushback
“This is Russ Vought’s latest illegal power grab in his ongoing plan to shut down the CFPB and protect CEOs instead of consumers,” Cat Farman, president of the CFPB’s worker union, said in a statement, accusing Vought of illegally refusing to fund the agency and calling on Congress to remove him from office.
