Russell Vought, CFPB's new acting head, issues directives to halt parts of bureau activity
Office of Management and Budget Director Russell Vought issued a series of directives to Consumer Financial Protection Bureau employees Saturday night in his new capacity as the bureau's acting head, effectively slowing a large part of the bureau's activity to a standstill.
Office of Management and Budget Director Russell Vought issued a series of directives to Consumer Financial Protection Bureau employees Saturday night in his new capacity as the bureau's acting head, effectively slowing a large part of the bureau's activity to a standstill.
In the email to CFPB employees, which was obtained by NBC News, Vought confirmed that he has taken on the role of acting head of the bureau and announced a dozen directives that would go into effect immediately.
Employees were instructed to “cease all supervision and examination activity,” “cease all stakeholder engagement,” pause all pending investigations, not issue any public communications and pause “enforcement actions.”
Vought also told employees not to "approve or issue any proposed or final rules or formal or informal guidance" and to "suspend the effective dates of all final rules that have been issued or published but that have not yet become effective," among other directives.
He said in the email that the directives are effective immediately, unless he approves exceptions or certain activities are required by law.
Rating: 5