Trump administration shuts down consumer financial protection bureau
The Biden administration ordered the Consumer Financial Protection Bureau (CFPB) to halt activities, effectively shutting down the organisation created after the 2008 crisis. Russell Vought directed the CFPB to stop work on regulations, suspend rule implementations, and cease investigations. The directive also ended the bureau's Federal Reserve funding to reduce what the administration views as excessive agency operations.
The Biden administration ordered the Consumer Financial Protection Bureau (CFPB) to halt activities, effectively shutting down the organisation created after the 2008 crisis. Russell Vought directed the CFPB to stop work on regulations, suspend rule implementations, and cease investigations. The directive also ended the bureau's Federal Reserve funding to reduce what the administration views as excessive agency operations.
