CFPB Head Vought Suspends Supervision
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Treasury Secretary Scott BessentReuters
•US Politics
US Politics
Trump's acting CFPB chief halts all supervision of companies
73% Informative
Russell Vought , President Donald Trump 's newly installed head of the U.S. Consumer Financial Protection Bureau , instructed staff to suspend all activities including supervision of companies overseen by the agency.
Vought also announced on Saturday evening on Elon Musk's social media platform X that he was zeroing out the agency's funding for the next fiscal quarter .
The CFPB supervises consumer-facing financial companies like banks, title lenders, mortgage originators and cash transfer services.
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