Remember how OMB and Acting CFPB Director Vought said he wanted to traumatize federal employees? Musk’s demand that employees list five things they did was reportedly in response to Trump’s demand that Musk be more aggressive. Does that make it sound like the purpose is to harass or for some more legitimate purpose, like accountability? […]
In the wake of the chaotic shutdown of the Consumer Financial Protection Bureau and the lawsuits filed to fight its apparent closure, 22 states and the District of Columbia filed two amicus briefs within days in support of the bureau and its statutory functions. On Feb. 19, the state attorneys general banded together in an […]
According to the New York Times, after President Trump asked Elon Musk to be more aggressive, Musk ordered federal employees to report what they had done this past week or be fired. CFPB employees, most of whom are on administrative leave, received an email stating ““Please reply to this email with approx. 5 bullets of […]
As long as Congress preserves the filibuster rule, the current Congress cannot amend the Consumer Financial Protection Act to eliminate the CFPB without the assent of 60 senators, something that seems very unlikely. But could the CFPB’s opponents accomplish the same goal by zeroing out the Bureau’s funding using a reconciliation bill, which requires only a […]
The stipulation of dismissal is here. Here’s some of what the Bureau had said earlier about the case: The Bureau alleges that SoLo’s advertisements and loan disclosures tout no-interest loans when, in fact, virtually all loans on the SoLo Platform include a lender “tip” that goes to the lender, a SoLo “donation” that goes to […]
From Bloomberg Law‘s Evan Weinberger. The question might not be what the OCC plans but what the Trump administration writ large plans.
WaPo’s Liz Goodwin has the story at Warren: Musk should have the courage to defend gutting of consumer agency (behind paywall). Also invited to testify: “Massachusetts Attorney General Andrea Campbell and Lorelei Salas, the former head of supervision at the CFPB who recently resigned after refusing an order to stop work at the agency.”
So Politico reports here. Evidently reducing government waste requires hiring new CPB employees while telling existing CFPB employees not to work.