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CFPB Director Orders Staff Shutdown

This is a news story, published by Wired, that relates primarily to Russell Vought news.

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Acting Consumer Financial Protection Bureau director Russell Vought

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former CFPB staffer
Wired

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US Politics

US Politics

The CFPB Work Freeze Is Putting Big Tech Regulations ‘On Ice’

Wired
Summary
Nutrition label

76% Informative

Acting CFPB director Russell Vought has ordered all bureau staffers to halt investigations, enforcement, rulemaking, research, and public statements.

He also forbade them from making court appearances, other than to pause or postpone proceedings.

The move put an abrupt halt to several active lawsuits and investigations against companies accused of defrauding consumers.

The CFPB has issued several enforcement actions in recent months , including lawsuits against Capital One , Cash App, Walmart, Zelle , Walmart and Branch Messenger .

When successful, the court may order a company to change its practices to comply with the law.

The bureau is also responsible in following up with companies and making sure they hit their deadlines, effectively enforcing the ruling.

VR Score

74

Informative language

71

Neutral language

37

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formal

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English

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not offensive

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not hateful

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not detected

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not detected

Time-value

short-lived

External references

26

https://www.technet.org/our-story/members/https://www.whitehouse.gov/presidential-actions/2025/01/return-to-in-person-work/https://x.com/car0linehaskins/status/1889333169301692701https://www.bloomberg.com/news/articles/2011-07-07/elizabeth-warren-s-dream-becomes-a-consumer-bureau-she-may-never-leadhttps://www.consumerfinance.gov/enforcement/enforcement-by-the-numbers/https://natlawreview.com/article/new-cfpb-larger-participant-rule-boosts-oversight-major-digital-payment-providershttps://www.theguardian.com/media/2023/jul/29/elon-musk-wechat-twitter-rebranding-everything-app-for-westhttps://x.com/lindayaX/status/1884254005188034772?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1884254005188034772%7Ctwgr%5Eb2c652559d41c74e7bd6bbb4c034d6b982c424bc%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2025%2F01%2F28%2Felon-musk-x-visa-digital-wallet.htmlhttps://x.com/elonmusk/status/1861644897490751865https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-operator-of-cash-app-to-pay-175-million-and-fix-its-failures-on-fraud/https://www.nytimes.com/2011/07/18/business/former-ohio-attorney-general-picked-to-lead-consumer-agency.html?_r=0&pagewanted=allhttps://www.law.cornell.edu/uscode/text/18/1968https://www.consumerfinancialserviceslawmonitor.com/2024/11/cfpb-reaches-settlement-with-townstone-financial-inc/https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-jpmorgan-chase-bank-of-america-and-wells-fargo-for-allowing-fraud-to-fester-on-zelle/https://www.consumerfinance.gov/rules-policy/final-rules/defining-larger-participants-of-a-market-for-general-use-digital-consumer-payment-applications/https://netchoice.org/about/#association-membershttps://www.consumerfinance.gov/data-research/consumer-complaints/search/?chartType=line&dateInterval=Month&dateRange=All&date_received_max=2025-02-09&date_received_min=2011-12-01&lens=Product&searchField=all&subLens=sub_product&tab=Trendshttps://www.pbs.org/newshour/politics/vought-orders-cfpb-to-stop-investigations-and-suspend-new-rules-from-taking-effecthttps://obamawhitehouse.archives.gov/the-press-office/2010/09/17/president-obama-names-elizabeth-warren-assistant-president-and-special-ahttps://x.com/elonmusk/status/1887979940269666769https://www.theblock.co/post/339663/coinbase-gemini-ceos-cheer-as-consumer-financial-protection-bureau-chief-defangs-agencyhttps://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-capital-one-for-cheating-consumers-out-of-more-than-2-billion-in-interest-payments-on-savings-accounts/https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-walmart-and-branch-messenger-for-illegally-opening-deposit-accounts-for-more-than-one-million-delivery-drivers/https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-to-address-townstone-financials-unlawful-redlining/https://www.consumerfinance.gov/about-us/blog/creditrepaircom-and-lexington-law-refund-checks-what-you-need-to-know/https://www.consumerfinance.gov

Source diversity

14

www.technet.orgwww.whitehouse.govx.comwww.bloomberg.comwww.consumerfinance.govnatlawreview.comwww.theguardian.comwww.nytimes.comwww.law.cornell.eduwww.consumerfinancialserviceslawmonitor.comnetchoice.orgwww.pbs.orgobamawhitehouse.archives.govwww.theblock.co

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