Employees of the Consumer Financial Protection Bureau were instructed to halt all supervision, examination activity, and stakeholder engagement by the acting director, Russell Vought, in an email from the Office of Management and Budget. Vought, who assumed the role after Scott Bessent, ordered staff to cease issuing new rules, guidance, and investigations, freezing the agency’s operations. The agency, known for its regulations on mortgages and credit cards, faced backlash from employees and Elon Musk’s efficiency team, leading to a halt in funding and a mysterious update to its website.
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