Trump administration cutting nearly 90% of Consumer Financial Protection Bureau

[Swordsmyth]

President Trump's administration is drastically shrinking the size and mission of the Consumer Financial Protection Bureau, part of a months-long gambit to scale back the financial regulator.

Roughly 1,500 employees — or almost 90% of the agency's staff — will be cut from the CFPB, leaving around 200 people, according to an administration official who wasn't authorized to disclose the figure publicly and spoke to the Associated Press on condition of anonymity. Fox Business first reported the number of layoffs.

Employees started receiving layoff notices on Thursday. Their access to agency systems, including emails, ends on Friday evening.

"The Consumer Financial Protection Bureau identified your position being eliminated and your employment is subject to termination in accordance with reduction-in-force (RIF) procedures," the emails said.

Mark Paoletta, the chief legal officer for the agency, sent a message to employees on Wednesday describing a reduced mission, with plans to "shift resources away from enforcement and supervision that can be done by the States," he wrote.

More at:

https://www.cbsnews.com/news/trump-administration-cutting-nearly-90-percent-consumer-financial-protection-bureau/

Trump administration cutting nearly 90% of Consumer Financial Protection Bureau

President Trump is downsizing the Consumer Financial Protection Bureau.

www.cbsnews.com

 

[acptulsa]

Did he tell any of the leftovers to investigate the insider trading in Congress?

 

[Swordsmyth]

Did he tell any of the leftovers to investigate the insider trading in Congress?

That's the SEC.

 

[acptulsa]

That's the SEC.

Probably so. Did he issue them the order? Or would that spoil the art of his dealmaking? Anyone who wanted the crooks out of Congress in midterm landslides would be doing it.

Before the election you were posting photoshops that looked like Trump fantasy action figures. Now all we get is the usual partisan purges and meaningless gestures.

Where da action at?

 

[Swordsmyth]

Probably so. Did he issue them the order? Or would that spoil the art of his dealmaking? Anyone who wanted the crooks out of Congress in midterm landslides would be doing it.

Before the election you were posting photoshops that looked like Trump fantasy action figures. Now all we get is the usual partisan purges and meaningless gestures.

Where da action at?

Last I heard DOGE was looking into that issue.

 

[acptulsa]

Last I heard DOGE was looking into that issue.

Thought I heard somebody say it was the SEC's job. Elon trying to make congressional insider trading more efficient...?

 

[Swordsmyth]

Thought I heard somebody say it was the SEC's job. Elon trying to make congressional insider trading more efficient...?

DOGE is in charge of working with agencies like the SEC and IRS to direct them in rooting out fraud and crimes etc.

 

[acptulsa]

DOGE is in charge of working with agencies like the SEC and IRS to direct them in rooting out fraud and crimes etc.

I wish you'd post your source once in your life, instead of just blithely posting the guesses you base on rumors as fact. I'd love some confirmation that Trump tasked Musk with that.

WHAT WE KNOW Trump put Musk in charge of deciding which Creatures of Congress to investigate for holding Tesla Motors stock all the while they were trying to outlaw gas buggies.

WHY IT MATTERS Musk was chairman of Tesla Motors the whole time.

Trump couldn't pick any better -- assuming he's trying to ensure no Democrat gets investigated.