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Elon Musk conducts a chainsaw on the political actions conference (CPAC) in the National Harbor, Maryland, USA, February 20, 2025.
Nathan Howard | Reuters
A Bureau for Financial Protection ConsumersAccording to the testimony assigned to Trump, he plans to dismiss almost all his 1700 employees.
In A fuck From the statements published at the end of Thursday, federal staff stated that the mass dismissal was discussed at the meetings they participated this month with senior CFPB leaders and members Elon MuskThe so -called government’s Department.
“My team was aimed at helping the overwhelming majority of CFPB employees as soon as possible,” said the employee who identified Alexo Doow, a pseudonym used by the fear of revenge.
Dou said the CFPB and Dage’s plan plan was to cut the Bureau’s labor force in three stages. This first eliminates conditional conditional conditional conditional conditional conditional condition And the term of the term, and then hold a wave of about 1,200 layoffs, leaving a skeletal crew of several hundred workers.
“Finally, the bureau will reduce” within 60-90 days, stopping most other employees, “said yes.
Working testimonies come at a decisive time for CFPB, an agency created to protect consumers after the 2008 financial crisis caused by irresponsible lending. Since the DOGE -operatives first arrived at CFPB this month, the Bureau stopped the Washington headquarters, initiated the first round of layoffs and told those who remain stopped Almost all the work.
The Department also changed the course on several cases where he accused financial firms, including Capital One to disrupt customers, Deviation at least four cases On Thursday, with the participation of billions of dollars, the consumer was allegedly harm.
Stocks containing employee statements were made in undertaking The start of the CFPB union, which led to the judge dismissed the acting director of Russell Vus to close the bureau. After the CFPB fired about 200 test and urgent employees, the agency’s actions were stopped before the on March 3.
“Five men and phone”
The documents show a clear shutdown between some external messaging from Vought and behind -the -off activities.
In A movement Filed on Monday in case, Vaudi pushed Returning against the idea that he planned to eliminate CFPB.
“Predico to launch” more orderly and efficient bureau “is that the CFPB will remain,” he wrote.
But the Trump administration plan was to move the CFPB to the slightest minimum personnel schedule required in accordance with the law: only five CFPB officers will remain either in the autonomous office or formed to another regulatory body, the employees said.
At the meetings between February 18 and February 25, “the leaders of the leaders said that CFPB will be eliminated, except for five legislative positions,” another current CFPB employee said, and this was distinguished as Drew.
“One senior executive director said that CFPB will be a” number in the Treasury, the White House or the Federal Reserve with five men and the phone, “Dai said.
Another CFPB employee said he or she attended a meeting on February 13, at which Adam Martinez’s chief operative director said the agency was “wind”.
CFPB staff said that when sent to court, they would give their names and headlines.
Dodge role
The bureau has long been the goal of Republicans and financial institutions called by the festivities that exceeded its legal powers in the executed companies. Most recently, Musk undertook the case; He posted on his X platform, “”RIP CFPB“Earlier this month, as soon as its DOGE operatives started their work.
In several cases, the senior CFPB employee seemed to postpone DOGE employees on critical issues.
For example, Dagen Jordan Wieck worker “specifically stated that by February 14 a special group of Musk wanted a massive round of dismissal.
“The Bureau intended to execute and dismiss the vast majority of the other employees on February 14yousaid Alex yes. – The only reason for this did not do this from the order of this court.
In other cases, the employees of the Dogeg staff asked CFPB employees about how deep they could reduce operations by following the legislative requirements in areas such as consumers’ reaction, according to the CFPB employee Matthew PFAFA.
Despite receiving full access to CFPB systems and data on February 7, DOGE staff have not yet undergoing cybersecurity and privacy, the staff testified.
Legal requirements
While Musk and WuTS openly advocated the cessation of CFPB, only Congress could truly close the agency created after the lawmakers passed the Dodd-Frank Law in 2010.
It seems that Vought’s steps allow him to demand that CFPB is still exists, while lagging behind the role, sharply reducing his ability to control the company and responding to complaints.
CFPB staff questioned whether there may be several employees to fulfill dozens of statutory requirements of the agency, which include a reaction to millions of consumer complaints submitted via the Internet and telephone lines, as well as maintaining propaganda bureaus for military and elderly citizens.
On Thursday Jonathan McCain, president Donald TrumpChoose to take on CFPB for Vought, detach Legislators, including hay. Elizabeth WarrenThe Democrat Massachusetts, which is attributed to the creation of the agency that it “fully and conscientiously” complies with the laws related to the CFPB mission.
Maccernan added that if he confirms the Senate, he “will” conduct “CFPB, as well as” reorient “and” do it accountable “.
Noticing that Vought, who is also the head of the management and budget management, canceled the agency’s headquarters, Senator Jack Reid, D.-ri, said McCain that he was in a “very difficult position”.
“You seem to on the titanium“Said Reed.” Good luck ”.
