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Consumer Financial Protection Bureau on Brink of Being Shuttered After Saving Consumers $21 Billion

HeadlineFeb 10, 2025

The Trump administration has effectively shut down the Consumer Financial Protection Bureau. The bureau’s acting director, Russell Vought, who was the architect of Project 2025, has closed the bureau’s office for the next week and has ordered staff to halt nearly all work. Vought’s move came after Elon Musk wrote a message Friday on X that said ”CFPB RIP” along with an emoji of a tombstone. Since its formation in 2011, the bureau has helped return about $21 billion to consumers, but the agency has been long been criticized by Republicans and big business interests.

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