The Consumer Financial Protection Bureau (CFPB) has abruptly closed its Washington headquarters, ordering workers to work remotely with out clarification.
Workers obtained an electronic mail message that stated the bureau can be “closed this week.”
“Workers shouldn’t come into the workplace,” Please don’t carry out any work duties,” Appearing Director Russell Vought stated in an electronic mail to CFPB workers on Monday.
The transfer follows the appointment of Vought within the watchdog function, changing Treasury Secretary Scott Bessent, reported NPR.
Vought, a key determine in Challenge 2025, has suspended most company operations, together with investigations and regulatory oversight, elevating issues about shopper safety for Individuals from the union representing CFPB workers.
Vought introduced the CFPB’s shutdown in a publish printed on X.
“Pursuant to the Consumer Financial Protection Act, I’ve notified the Federal Reserve that CFPB is not going to be taking its subsequent draw of unappropriated funding as a result of it’s not ‘fairly vital’ to hold out its duties,” Vought stated.
“The Bureau’s present steadiness of $711.6 million is in actual fact extreme within the present fiscal atmosphere,” he stated. “This spigot, lengthy contributing to CFPB’s unaccountability, is now being turned off.”
Pursuant to the Consumer Financial Protection Act, I’ve notified the Federal Reserve that CFPB is not going to be taking its subsequent draw of unappropriated funding as a result of it’s not “fairly vital” to hold out its duties. The Bureau’s present steadiness of $711.6 million is in actual fact…
— Russ Vought (@russvought) February 9, 2025
Elon Musk’s Division of Authorities Effectivity (DOGE) workforce has gained entry to CFPB methods, deleted its social media accounts, and brought management of its web site.
Musk’s involvement has sparked fears of the company’s potential dismantling, echoing related actions at USAID.
In the meantime, Musk declared on social media, “CFPB RIP.”
President Donald Trump stated Musk will sort out the Pentagon’s spending in DOGE’s subsequent job.
Source link
#Consumer #Financial #Protection #Bureau #Headquarters #Shut #Workers #Workplace