Russ vought, eavesdropped on as a CFPB duties, directs the office to issue new rules, stop all investigations
The director of the Russell Vought Budget and Budget is now the acting director of the Consumer Protection Office, where he instructed the staff not to issue new rules, suspend the effective dates of all final rules and stop any new investigations.
Vought, also author of the 2025 project, was Appointed acting director of CFPB Director on Friday.
“I am honored that President Trump has appointed me as acting director of Bureau on February 7, 2025,” Vouight Ue -Prutio CFPB’s colleagues to colleagues RealClearpolitics. “As an acting director’s office, I am dedicated to the implementation of the president’s policies, in accordance with the law and act as a loyal manager of the Bureau resource.”
He has issued several directives that, immediately enter into force, must follow all employees, performers and other CFPB staff, “unless explicitly approves the acting director or requires the law,” according to Realclearpolitics.
Russell Vought speaks during the hearing of the Senate Budget Committee on his nomination, on Capitol Hill in Washington, Wednesday, January 2, 2025. (Jacquelyn Martin/AP)
Directives include not approval or issuing any proposed or final rules or formal or informal guidelines, and the bureau suspended the effective dates of all the final rules issued or published, but did not enter into force.
Vought also ordered the bureau to “not start, taking investigative activities related to actions or settlement of executive actions”. The CFPB must not open any new investigation in any way and has to stop any probes in progress, he said.
The director of the director said that CFPB will not publish public communication of any kind, including research works.
Russell Vought laid an oath during the Nomination of the Senate Committee Nomination in the Dirksen Senate building on January 22. 2025 in Washington, DC (Kayla Bartkowski/Getty Images)
In addition, the CFPB may not approve or execute any material contracts, including those related to employees or contractors, and may not amount to or approve the applications or appearances by an office in any litigation, except to ask for a break in the procedure.
The office was also told to stop all supervision and examinations and to stop all stakeholder engagement.
Vought also sent a letter to the Federal Reserve not looking for money For the third quarter of the CFPB fiscal year 2025.
Russell Vought testifies during the Senate Senate Nomination Senate Nomination in the Dirksen Senate building on January 22. 2025 in Washington, DC (Kayla Bartkowski/Getty Images)
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“In accordance with the Consumer Financial Protection Act, I informed the federal reserves that CFPB will not take on its next appropriate funding because it is not” reasonable “to perform its duties,” Vought on X. “The current balance of $ 711.6 billion in fact is exaggerated in the current fiscal environment.
This comes after Vough Confirmed from the Senate Thursday to run the Office for Management and Budget.
Fox News Digital addressed the CFPB for further comment.
