The CFPB Has Been Gutted

More than 1400 Consumer Financial Protection Bureau (CFPB) employees have been terminated on Thursday in a broader term Trump Office Seakup in an independent government agency says the sources are wire. There were about 1700 employees total In CFPB.

Mass reduction in force or reef comes one month after the federal judge a temporary order order To prohibit Trump management From the elimination of test workers In CFPB and other agencies. Friday, The Court of Appeal decided Since CFPB can be stopped again because it is “individual estimates” for so long. About 200 employees will remain in CFPB, an agency that affords the agency Elon Musk said before ‘must be deleted. ‘

In an email sent to CFPB employees on Wednesday, CFPB General Officer Mark Paoletta said the agency would be directed to their control and “material damage to consumers”. Medical debt, student loans, consumer information and digital payments determined all on the “refusal” of CFPB in terms of CFPB document.

“As far as I can say that every office has been able to have at least some of them imagined at least somewhere, at least some of them,” said CFPB employee. “My guess will have several leadership positions and several leadership positions for several leadership positions and skeletal staff for the functions of the Bureau very clearly.

CFPB was established by Dodd-Frank Active, 2010, a large piece of legislation conducting the resulting regulatory reform after the 2008 financial crisis. The agency was created to protect consumers from unfair or deceptive financial experience and this claims The demonstration was responsible for $ 19.7 billion in consumer relief, as well as $ 5 billion

“They did not follow the CBA [collective bargaining agreement]Not separated from Dodd-Frank and did not give everyone enough notice, “he claims a CFPB who lost his jobs on Thursday.

Musk and other conservatives called CFPB to destroy a while. The project describes 2025 financial regulators about financial regulators describes this as “highly politicized, harmful, harmful and completely unacceptable federal agency” and canceled. In February, Musk wrote “RIP CFPB” with a graveya emoji in an X post. “CFPB delete” in November.

In February, The string reported Gavin Kliger and Three Dogeg Operator, including Nikhil Rajpal, CFPB’s HR, procurement and financial infrastructure were obtained. Doge employees were given the opportunity to access all the agencies of the Agency on Friday, Bloomberg reportedincluding bank examination and executive rules. Subsequent requirements for the entrance to the doe continued during the month.

“Notice what CFPB says, pay attention to what they do,” Emily Peterson-Cassin, the Demand Progress Education Fund responds to cuts on Thursday, he said. “And what they do, and all the efforts, wall street, large banks and great technology to protect all Americans from fraud and cheaters.”