More than 1,400 Consumer Financial Protection Bureau workers were terminated from their positions today in a mass reduction in force, leaving about two hundred workers in the bureau, effectively closing it down.

An appeals court ruled that the Consumer Financial Protection Bureau could begin terminations again so long as “individual assessments” were conducted for each terminated employee. No “individual assessments” were conducted.

Medical debt, student loans, consumer data, and digital payments have all been identified as topics the Consumer Financial Protection Bureau will “deprioritize.”

The agency, created to protect consumers from unfair or deceptive financial practices, has provided $19.7 billion in consumer relief since its inception, as well as $5 billion in civil penalties.

But no worries -- consumers can protect themselves from fraud and scams now.


https://www.wired.com/story/cfpb-has-been-gutted/

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