Russell Vought, the acting director of the Consumer Financial Protection Bureau (CFPB), has issued a directive instructing CFPB employees to cease all work activities immediately. In an email obtained by sources, Vought explicitly stated that employees should not perform any work tasks unless they receive written approval from the bureau's chief legal officer for urgent matters.
This latest directive follows a previous order from Vought on Saturday night, where he had instructed CFPB staff to halt various activities, including supervision and examination tasks. The new message goes even further, mandating a complete stand down from all work tasks.
Consumer advocates have expressed concerns over the implications of these directives, fearing that the absence of federal oversight could leave Americans vulnerable to potential exploitation by financial institutions such as big banks and payday lenders.
Democratic Sen. Elizabeth Warren, the ranking member of the Senate Banking Committee, criticized Vought's actions, accusing him of enabling big banks and corporations to take advantage of families. Vought has reiterated that the CFPB headquarters are closed, and employees are not to report to the office.
