The incumbent director of the Office for Management and Budget (OMB) Russell Vought speaks to reporters during a press conference in the White House in Washington, USA, March 11, 2019.
Jonathan Ernst | Reuters
The employees of the Consumer Financial Protection Bureau were asked to work from afar on Sunday because their headquarters in Washington, DC, would be closed by February 14 to February 14th.
The memo of Adam Martinez, Chief Operating Officer from CFPB, follows an email that was sent on Saturday by the newly installed incumbent CFPB director Russell Vougt and which the employees noted, almost all activities of the supervisory authority, including the monitoring of financial companies to expose.
The developments result in the fate of the CFPB and its employees after the employees of Elon Musks Doge had reached the supervisory authority at the end of last week. The employees of Doge received access to CFPB data sources, including the ratings of the staff who asked the situation that asked for anonymity for fear of reprisals.
Musk, who demanded the deletion of CFPB last year, released “CFPB RIP” on his X Social Media platform in X Social Media on Friday.
Apart from the fact that he freezes almost all CFPB activities with his first memo, he asked on X on Saturday that he had stopped the river of the new financing to the agency. “This cone, which contributes to CFPBS Uncountability for a long time, is now being switched off,” wrote Vought.
VOUGHT, who was confirmed on Thursday as head of the office for management and budget by President Donald Trump, is one of the authors of Project 2025, the master plan for the redesign of the federal government.
The CFPB and a representative of Musk did not immediately return inquiries about comments.
Discharge fears
CFPB employees are preparing for the opportunity to be assessed or released the administrative leave, similar to the people in the office, similar to the officials of Trumps with the US Agency for International Development.
While there are around 1,700 CFPB employees, only a few hundred workers have positions that are legally available, according to a person with knowledge of the agency.
Mass layoffs would endanger the Mission of the CFPB that were created after the 2008 financial crisis to prevent banks and other financial companies from using Americans. Bank trading groups have long accused CFPB of being unfair and fought the agency's rules in court and even tried unsuccessfully to declare the agency for unconstitutional.
There are several CFPB efforts that would have saved consumers of $ 10 billion, including restrictions on credit card and overdraft fees, as well as a rule that would have removed medical invoices of $ 49 billion from the credit reports of 15 million Americans.