The Consumer Financial Protection Bureau’s website went dark as Office of Management Director Russ Vought was named acting CFPB director, and DOGE began its audit.
One of the first acts of the incoming Trump administration was to fire the serving director of the CFPB (see Trump Admin. Continues to Clean House, Firing Consumer Financial Protection Bureau Chief) and appoint newly confirmed Treasury Secretary Scott Bessent as acting director; see Trump Fires Head of CFPB and Gets a Surprising Acting Director. Bessent immediately ordered CFPB to cease all regulatory and communications activities.
The energy level there amped up on Friday when President Trump replaced Scott Bessent with incoming OMB director Russ Vought; see After a 30-Hour Dramafest, Senate Democrats Fail to Stop Russ Vought’s Confirmation.
Russell Vought took over the Consumer Financial Protection Bureau Friday night, adding another twist at the banking watchdog that has landed in the crosshairs of Republicans and Elon Musk.
Vought, who Thursday was confirmed by the Senate as the head of the Office of Management and Budget, is now the acting director of the CFPB, he emailed to top staff at the agency, according to people familiar with the matter. The new leader comes days after Trump fired the Biden-era leader and put in place Treasury Secretary Scott Bessent, who immediately froze the agency’s work.
Musk earlier Friday had posted “CFPB RIP” on his X social-media platform with an emoji of a tombstone.
Along with Vought came a team from DOGE.
Elon Musk’s Department of Government Efficiency, or DOGE, has gained access to the Consumer Financial Protection Bureau and has started a thorough review of the independent government agency designed to protect consumers from corporate fraud and scams.
DOGE representatives have gained access to the internal systems, including personnel rolls and financial records of the agency, according to two sources directly familiar with their review. The agency is an outlet for Americans dealing with issues such as questionable student loan servicing practices or excessive bank overdraft fees.
According to the federal union representing some of CFPB’s employees, Musk deputies were added to the agency’s email directory and “spotted in the CFPB building” this week. According to NTEU 335, three of Musk’s representatives, Chris Young, Nikhol Rajpal, and Gavin Kilger were added to the staff directory on Friday. […]
— Read More: redstate.com
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