CFPB employees say Trump administration plans to 'wind down' agency
Several employees of the Consumer Financial Protection Bureau (CFPB) said in a series of court applications Thursday that the Trump administration appears to be directly inconsistent with the administration's claims earlier this week. Consumer Watchdog officials told staff recently that they intend to eliminate all but five employees and transfer the CFPB legally necessary functions […]
Bank regulation agency CFPB won’t die — despite Trump’s best efforts
After the nuclear disaster, it is said that mice and cockroaches are the only survivors. And perhaps the Consumer Financial Protection Bureau. The agency, known in the banking world for its DC and its acronyms, was created by Sen. Elizabeth Warren and former President Barack Obama as consumer protection regulators in the aftermath of the […]
Democratic senator presses Trump CFPB nominee: 'Who's really going to be in charge?'
Sen. Tina Smith (D-Minn.) pressed President Trump's candidate to lead the Consumer Financial Protection Bureau (CFPB) on Thursday on who will make key decisions at the institution after dismissing several lawsuits against the financial company while appearing before Congress. Trump appointed Jonathan McCernan, a former board member of the Federal Deposit Insurance Corporation (FDIC) as […]
CFPB drops slew of cases including against Capital One
On Thursday, the Consumer Financial Protection Agency dropped a series of enforcement actions against financial services companies accused of fraudulent conduct under financial services. President Trump continues to fire Fast moves to dismantle the enginesaid he should be eliminated, but it happened when his candidate, heading Director Jonathan McCernan, was in Capitol Hill. Testify before […]
Musk business entanglements loom over CFPB siege
Elon Musk's plan to add payment services to his social media platform X is much higher than the Trump administration's push to dismantle the Consumer Financial Protection Bureau (CFPB). The tech billionaire has long expressed his hopes to turn X into “all apps” that act as a payment platform. This brought the vision that X […]
Musk's CFPB conflict
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DOGE wins access to sensitive Labor, HHS and CFPB data from federal judge
A federal judge handed a big victory to Elon Musk's Office of Government Efficiency on Friday, saying sensitive data could be accessed at three major government agencies. Musk's budget slavery team was making inadvertent efforts through the finances of the Ministry of Labor, the Ministry of Health and Human Services, and the Department of Consumer […]
Trump rolls back CFPB, USAID and Department of Education: Where things stand
President Trump overcharged the agency this week for an overhaul of the agency. Trump signed an order this week indicating that he would launch a massive “power reduction,” also known as the RIF, as part of implementing Elion Musk's Government Efficiency (DOGE)-led initiative. The order covers many federal agencies, including the Consumer Financial Protection Agency […]
Judge blocks Trump admin from firing CFPB employees
A federal judge on Friday blocked the Trump administration from firing employees at the Consumer Financial Protection Bureau (CFPB) amid a greater drive to effectively dismantle the institution. The Trump administration is prohibited from firing or issuing CFPB employees without reason as part of an agreement reached between the Justice Department and the National Treasury […]
Trump Moves to Rein in the Rogue CFPB
Ends unchecked power of CFPB The Consumer Financial Protection Bureau (CFPB) has become one of Washington's most powerful and least responsible agencies. Created under Dodd Frank in 2010, it was Elizabeth Warren's pet project, Progressive Financial Watchdog It is designed to operate out of reach of voters and elected officials. Unlike most agencies, the CFPB […]