GOP Halts Consumer Protection Work at CFPB, Employees Left Idle

The Consumer Financial Protection Bureau (CFPB) has been largely inactive for almost six months, with employees prohibited from doing any work by a directive from the White House. This has left American consumers without the protection and oversight the bureau is supposed to provide for their financial services. Under President Trump, the bureau's focus shifted from consumer protection to undoing previous administrations' work, leading to a demoralizing environment for employees.

President Biden's pick to lead the bureau, Rohit Chopra, aimed to target profitable practices by banks and tech companies, resulting in significant financial settlements. However, the Trump administration, under Russell Vought, directed CFPB employees to cease work tasks, leading to a near standstill in operations and attempts to rescind penalties on companies found to have harmed consumers.

Despite court rulings blocking mass layoffs and budget cuts, the bureau's future remains uncertain. Employees find themselves in a state of limbo, waiting for decisions on their work and the bureau's direction.

According to the source: AP News.