From Yahoo Finance: 2025-04-17 17:06:00

President Donald Trump is drastically reducing the Consumer Financial Protection Bureau, cutting roughly 1,500 employees and leaving only around 200. Layoff notices have been sent, with the administration aiming to focus on tangible consumer harms like mortgage issues rather than enforcement and supervision. This move is part of a larger reshaping of the federal government, with Elon Musk making the agency a top target. The National Treasury Employees Union is fighting back, arguing that the layoffs interfere with the agency’s duties. Sen. Elizabeth Warren criticized Trump’s actions as an assault on consumers and democracy. The CFPB has provided nearly $20 billion in financial relief to consumers since its founding in 2010.



Read more at Yahoo Finance: Nearly 90% of Consumer Financial Protection Bureau cut as Trump’s government downsizing continues