Sources: the CFPB terminated more than 1,400 workers, leaving about 200 employees and effectively gutting the agency that Elon Musk previously said to “delete”
The Consumer Financial Protection Bureau terminated the positions of 1,400 of the agency's 1,700 employees …
Wired Makena Kelly
Related Coverage
- CFPB shifts enforcement to states, stops nonbank oversight American Banker · Kate Berry
- CFPB workers receive layoff notices in new bid to shutter agency Bank Automation News
- ‘People are dropping like flies’: CFPB begins laying off vast majority of staff Politico · Declan Harty
- Nearly 90% of Consumer Financial Protection Bureau cut as as Trump's government downsizing continues Associated Press · Chris Megerian
- ‘Reckless disregard’: Trump's FDA to end routine food inspections https://www.alternet.org/trump-fda- food-inspection/ … Meret
- Trump Administration To Lay Off Nearly 90% Of CFPB Employees In Major Downsizing: Report Benzinga · Proiti Seal Acharya
- CFPB to make sweeping job cuts as Trump admin refocuses agency Fox Business · Eric Revell
- CFPB to cut financial firm supervision, shift focus Off fintechs Bank Automation News
- Reports: CFPB Laying Off 90% of Staff PYMNTS.com
- Consumer watchdog agency begins sweeping layoffs and changes in operations Washington Examiner · Samantha-Jo Roth
- GOP Judge Darkly Warns Of Last Chance To Avoid Tyranny Talking Points Memo · David Kurtz
- Trump administration cutting nearly 90% of Consumer Financial Protection Bureau CBS News
- A new internal memo from the CFPB says it will ‘deprioritize’ its student-loan oversight in Trump's latest move to overhaul the consumer watchdog Business Insider · Ayelet Sheffey
- The CFPB Shuts Down Controversial “Regulation Through Guidance” Practices National Law Review · Katten
- CFPB hit with renewed layoffs Punchbowl News
- CFPB guts staff as White House tries to dismantle agency American Banker
- The CFPB starts to lay off staff as the agency plans a shift in its focus NPR · Laurel Wamsley
- The Consumer Financial Protection Bureau has cut 90 percent of its employees Engadget · Anna Washenko
- CFPB workers are receiving mass layoff notices The Verge · Lauren Feiner
- Under Trump, consumer watchdog to slash industry supervision Reuters · Douglas Gillison
- The CFPB says it will ‘deprioritize’ protecting student borrowers, people with medical debt Yahoo Finance
- CFPB Reportedly Planning Dramatic Enforcement Rollback PYMNTS.com
- Almost everybody in the CFPB has been fired. It was the regulator set up to stop another 2008 financial crisis occurring. https://www.wired.com/... @GossiTheDog@cyberplace.social · Kevin Beaumont
Discussion
-
@sambiddle.com
Sam Biddle
on bluesky
The CFPB is one of those things where like, virtually every single person in the United States would support its existence if they were told the truth about what it is/does. Or used to do, I guess. [embedded post]
-
@joshuaerlich
Joshua Erlich
on bluesky
the CFPB returned billions of money stolen from consumers due to predatory practices, including redlining. — just an abomination on behalf of Trump's base. the long island car dealership failsons wanted this more than anyone. [embedded post]
-
@joelanderson
Joel D. Anderson
on bluesky
The FDA. The CFPB. The CDC. Just in the past couple of days. — Man, we are going to collectively die so sick and so broke without massive and damn near immediate intervention.
-
@knibbs
Kate Knibbs
on bluesky
A victory for scammers. — The Consumer Finance Protection Bureau has been gutted by @makenakelly.bsky.social — www.wired.com/story/cfpb-h...
-
@wired.com
@wired.com
on bluesky
“What they're doing is systematically gutting all efforts to protect service members, and all Americans, from fraud and scams while simultaneously letting Wall Street, Big Banks and Big Tech off the hook,” Emily Peterson-Cassin, corporate power director at the Demand Progress Edu…
-
@wired.com
@wired.com
on bluesky
Elon Musk and other conservatives have called for the CFPB to be destroyed for some time. The Project 2025 chapter on financial regulatory agencies describes it as “a highly politicized, damaging, and utterly unaccountable federal agency.” — www.wired.com/story/cfpb-h... [ima…
-
@makenakelly
Makena Kelly
on bluesky
NEW: The CFPB has been gutted. More than 1,400 workers received RIF notices this afternoon, agency sources tell me. Around 200 employees are left. www.wired.com/story/cfpb-h...
-
@ddayen
David Dayen
on bluesky
The CFPB reduction in force was facilitated by an appeals court ruling last week that pried open a path to fire workers after an “individualized assessment.” CFPB went ahead and made that assessment to fire 1,500 workers in 4 days.
-
@schwartzbwsj
Brian Schwartz
on x
NEW: Take a look at the CFPB's new direction in a memo sent to staff this evening. Some key changes worth reading with the agency being run by acting CFPB director @russvought. Trump's nominee to run the CFPB, Jonathan McKernan, has yet to receive a full Senate vote. [image]
-
@financialcmte
@financialcmte
on x
🚨NEW: The Committee applauds Acting Director Vought's reprioritization of the CFPB's enforcement priorities. This is a welcomed change from the Biden Administration's aggressive regulation by enforcement approach.
-
@_vectorist
@_vectorist
on x
CFPB reduction-in-force notifications are going out right now. From 1800 staff down to 200. Computer access will be cut off for most of the agency by 6pm tomorrow. Open season on American consumers. These companies are going to start robbing us blind.
-
@ddayen
David Dayen
on x
I'm told CFPB just RIF'd its entire Office of Research, including the division that sets the APOR tables, an obscure but incredibly important part of making mortgage markets function. (thread) [image]
-
@agrobbonta
Rob Bonta
on x
Deeply disturbed by reports that the CFPB is planning to let go of thousands of employees. In the midst of man-made economic chaos and ever increasing corporate oligarchy, we can't afford to lose the agency tasked with protecting everyday consumers.
-
@adamrust9
Adam Rust
on x
By saving people $21 billion since the #CFPB's inception, the staff at the agency has demonstrated the value they bring. They deserve respect - not extremist attacks on their livelihoods inspired by the whims of billionaires. https://www.foxbusiness.com/ ... @consumerfed #Handsof…
-
@moreperfectus
@moreperfectus
on x
BREAKING: The Consumer Financial Protection Bureau is firing 1,500 workers, and will soon have only about 200 remaining. That means the CFPB will be largely unable to carry out its mission of overseeing financial institutions and regulating companies that scam consumers.
-
@deepakguptalaw
Deepak Gupta
on x
Motion for order to show cause: “Earlier today, the defendants sent out reduction-in-force notices to the vast majority of CFPB employees. Public reporting puts the total number of people terminated at approximately 1,400-1,500.” https://www.guptawessler.com/ ... [image]
-
@senwarren
Elizabeth Warren
on x
President Trump just fired almost the entire staff of the CFPB, who protect you from getting scammed by Wall Street. This is another assault on consumers and our democracy by Trump's lawless Administration. We will fight back with everything we've got.
-
@brendanpedersen
Brendan Pedersen
on x
News: CFPB reduction in force is underway at the agency, per several sources who have seen the notice sent out from acting Director Russ Vought Here's one notice sent today: [image]
-
r/TrueReddit
r
on reddit
The CFPB Has Been Gutted
-
r/feddiscussion
r
on reddit
The CFPB Has Been Gutted
-
r/fednews
r
on reddit
The Consumer Financial Protection Bureau Has Been Gutted
-
r/politics
r
on reddit
The CFPB Has Been Gutted