Reported 27 days ago
The Trump administration is reportedly planning to significantly reduce the Consumer Financial Protection Bureau (CFPB) by firing 95% of its staff and canceling its Washington, D.C. lease, as detailed in a federal lawsuit aimed at stopping these actions. The CFPB, which monitors financial institutions and their treatment of consumers, has already ceased operations under acting Director Russell Vought, leading to mass confusion and potential harm to consumers. The lawsuit argues that the agency can only be dismantled by Congress, highlighting concerns about the legality and impact of these drastic cuts.
Source: YAHOO