The Consumer Financial Protection Bureau has cut 90 percent of its employees

The Consumer Financial Protection Bureau was reduced to a skeletal staff. The department was created to control banks and financial institutions Leaving about 200 employees, reduce the agency about 90 percent.

Along with cutting most of the workers, the chief legal officer sent Mark Paoletta Explains modified priorities in detail for CFPB. The bureau was ordered to leave the subjects, including consumer information, digital payments, medical debt and student loans. Mortgage loans will now be a leading topic for the rest of the employees.

This department has taken measures against financial and technological institutions accused of deceptive or offensive practices with the participation of such firms in 2010 and created the cash app. Also encrypted to ensure providers control .

But since 2025, there is cfpb Multiple cases launched by the President Joe Biden administration. The actor of the management and budget management was directed by Russell, “Control and Examination Activities” in February.