Overview

• Acting CFPB Director Russell Vought has suspended all agency activities, including rulemaking, investigations, and stakeholder engagement.
• The Trump administration has ordered layoffs of probationary employees and ceased the CFPB's funding requests from the Federal Reserve.
• Critics argue these actions will leave consumers vulnerable to predatory financial practices, citing the agency's role in addressing complaints and securing billions in consumer relief.
• Supporters of the CFPB highlight its unique focus on consumer advocacy, with cases often resolved quickly and effectively, unlike other federal regulators.
• A federal judge has temporarily blocked further layoffs and data deletion at the CFPB, leaving its long-term viability in question.