Former Office of Management and Budget (OMB) director Russell Vought heard his second appointment as an OMB director in Capitol Hill, Washington, DC, in January, and was a member of the U.S. Senate Homeland Security and Government Affairs Committee. I take my seat when I arrive to testify before the meeting. .
Jemal Countess | AFP | Getty Images
Two senior leaders at the Consumer Financial Protection Bureau announced their resignation a day after acting director Russell Vought told all staff to quit their jobs.
In another memo sent earlier Tuesday, agency director of supervision Lorelei Salas and executive director Eric Halperin will be in their respective roles after Vought’s mission, according to an email obtained by CNBC. He said he would not be able to do so.
“The station was instructed to stop,” Saras said. “I don’t think it’s appropriate or legal to stop all supervisory activities and exams. [sic] He will serve as director. ”
The resignation adds more uncertainty for the CFPB, which has been targeted by trade groups and conservatives over the years. Since its inception in 2011, the agency has been actively responsible for the financial company, claiming it will return nearly $21 billion to consumers. Opponents said under former director Rohit Chopra the agency would reach beyond its legal authority to punish the bank and he would try to restrain it. Industry costs will hurt consumers.
CFPB employees have had the advantage since Elon Musk’s government efficiency operatives arrived at regulators late last week. Vought was then appointed acting director on Friday, and he said he would immediately refuse fresh funds to the agency, shut down the Washington, DC headquarters and instruct staff to freeze all department jobs. Ta.
“I don’t believe these terms can effectively serve my role. This protects American consumers,” Halperin said, and his office has been in the $9.5 billion mark since 2021. He added that he secured an order for fines or consumer relief. “Decision to resign. ”
This story is developing. Please check for updates.
