Russell Vought, who was confirmed by the Senate to lead the Office of Management and Budget a day earlier, took over as acting director of the Consumer Financial Protection Bureau. However, his new role came on the heels of Treasury Secretary Scott Bessent ordering a freeze on virtually all operations at the agency with no clear indication of its duration.
DOGE officials, linked to Elon Musk’s Department of Government Efficiency, deleted the CFPB’s X account and have been granted administrative access to the bureau’s systems. This led to the CFPB’s homepage being removed, displaying a “404 page not found” message. Despite this, some parts of the website remain functional.
The move has left officials at the CFPB in dismay and anger, according to a source. The White House and CFPB have yet to respond to requests for comment on the matter. A letter from dozens of House Democrats expressed concern over the freeze, calling on Bessent to rescind it.
Senator Elizabeth Warren warned President Trump that the freeze would conflict with his administration’s goal of preventing debanking and lowering costs for American families. The lawmakers’ letter requested answers about the impact of the freeze on consumers who have been harmed by financial institutions.
Source: https://edition.cnn.com/2025/02/08/business/cfpb-doge-vought-x/index.html