Force reduction notices were sent to employees of the Consumer Financial Protection Bureau today, according to a CFPB staff member who received a RIF opinion directly.
“The financial protection office of consumers has identified your eliminated position and your employment is subject to termination in accordance with strength reduction procedures (RIF),” said the e-mail.
The attached memo, signed by the acting director Russell Vought, indicates that the beneficiary will be separated from the federal service from June 16. Employees affected have access to internal systems until 6 p.m. HE tomorrow.
The CFPB Legal Director of the CFPB, Mark Paoletta, sent a document yesterday describing a change in the priority of the office application – including the resources “far from the application and the supervision which can be carried out by the States”.
The memo indicates that the office will concentrate “towards the institutions of deposit, as opposed to non -depository institutions” and “on real fraud against consumers” and added an emphasis on respect for federalism and the power of regulation of federal agencies. The office said it would be dice “Loans or other initiatives” for criminals, medical debt, peer-to-peer platforms and student loans and loans, among others.
DOGE employees visited the office of the office at least once in February, said a source that has witnessed their visit.
A response by automatic email from the CFPB tax office of service confirms the widespread nature of the RIF’s opinions: “We are currently receiving an influx of requests for information concerning the notice of reduction of force issued on April 17, 2025. We work with diligence to approach each individual request. Thank you in advance on the 17th advance for your patience. ”
Since the start of this year, the CFPB had around 1,700 employees.
Tonight, the Chamber’s Financial Services Committee led by the GOP said on x“The committee applauds the acting director Vought by the priority of the application of the CFPB. This is a welcome change in relation to the aggressive regulatory approach of the Biden administration. ”