Consumer Financial Protection Bureau to shut down for a week: Reports
Share and Follow


The Consumer Financial Protection Bureau (CFPB) will be shut down for a week, according to multiple reports.

The CFPB’s Chief Operating Officer Adam Martinez said in a Sunday email that there would be a Monday to Friday closure of the headquarters of the CFPB in Washington, D.C., The Washington Post reported.

The Office of Management and Budget’s Director, Russell Vought, has been recently attempting to crack down on the CFPB’s activities. In a social media post late Saturday night, he said he had “notified the Federal Reserve that CFPB will not be taking its next draw of unappropriated funding because it is not ‘reasonably necessary’ to carry out its duties.”

“The Bureau’s current balance of $711.6 million is in fact excessive in the current fiscal environment. This spigot, long contributing to CFPB’s unaccountability, is now being turned off,” Vought added.

NBC News has also reported that Vought sent an email to employees unveiling a series of directives for the CFPB that would instantly go into effect. Employees were told in the email to “cease all supervision and examination activity,” “cease all stakeholder engagement,” halt every pending investigation, not put forth any public communications and stop “enforcement actions,” per NBC.

Vought, who has faced Democratic attacks in relation to his ties to Project 2025, was confirmed earlier this week. Democrats pushed back against his nomination during hearings in past weeks as well as press conferences.

“He’s the wrong man – he seems to care little about the needs of American families; at the wrong place – at powerful OMB, where his decisions will be felt in every corner of the country; with the wrong agenda – the horrible Project 2025,” Senate Minority Leader Chuck Schumer (D-N.Y.) said prior to the Senate voting to confirm Vought.

The Hill has reached out to the CFPB and the White House for comment.

Share and Follow
You May Also Like

Dermatologist-Recommended SPF: A Favorite Among Celebrities

Page Six may be compensated and/or receive an affiliate commission if you…

“Car Bombings and ‘Death to IDF’ Message Under Investigation as Hate Crimes”

() A hate crime investigation is underway after an antisemitic message was…

Explanation of Percy Hynes White’s Departure from ‘Wednesday’ Season 2 Following Misconduct Allegations

Xavier has left Nevermore.  Actor Percy Hynes White, known for his role…

Meghan Markle expresses gratitude to Prince Harry for her special 44th birthday celebration

Meghan Markle shared sweet words of thanks to her husband Prince Harry…

Tennessee Citizen Speaks Out After Aiding Police in the Arrest of Fugitive Austin Drummond, Charged with Family Murder

A quick-thinking Tennessee house painter was determined to “do the right thing”…

Mother Allegedly Kills Her Two Children, Makes Jokes About It in Therapy Session

A mother accused of killing her two youngest children reportedly attended a…

John Kerry’s ritzy blue city neighborhood rocked as drug addicts ‘overrun’ cobblestone streets

NEWYou can now listen to Fox News articles! Residents in a ritzy…

China Intensifies Virus Control Measures Amidst Power Outages

Officials across China have implemented Covid-era preventive measures across the country as the chikungunya…