The consumer financial protection bureau was reduced to the crew of the skeleton. The department, which was created to monitor banks and financial institutions, reduced Leaving about 200 employees and reducing the agency by about 90 percent.
In addition to the reduction of most of the staff, the chief legal director Mark Paolett sent Details of altered priorities for CFPB. The bureau was ordered to depriate the subjects, including consumer data, digital payments, medical debts and student loans. The mortgage will now become a leading topic for the remaining employees.
Since its creation in 2010, this department has taken actions against financial and technical institutions accused of deceptive or insulting practices in cases related to firms as And which created the cash application. He also had to ensure supervision of suppliers Field
However, since the beginning of 2025 CFPB The numerous cases that he began under the administration of President Joe Biden. Office of the Office and Acting Director of the Budget, Russell Uchka gave an idea that the days of the Bureau can be numbered when he ordered all his “supervisory and examination activities” In February.