Elon Musk wrote, “The vote is giving green lights to major banks and giant corporations to scam families.” What should you know here?
President Donald Trump’s agenda collided with a speeding
Judges have dropped breaks on Trump’s efforts to track their policy goals.
Acting Director of Consumer Financial Protection Bureau The agency staff ordered that all works be stopped by an email on Saturday.
The agency’s acting director, Russell vote wrote in the email, “Immediately, unless the acting director is clearly approved or approved by the law, all the bureau employees, contractors and the bureau. Other personnel… will stop all surveillance and examination activity. ” Reported Cnn And New York Times.
President Donald Trump joined the Office of Management and Budget in January after taking office for the second time, which wrote that he had reduced financial support for the US consumer protection agency.
“I have informed the Federal Reserve that the CFPB will not make the next draw of its unmanaged funding because it is not ‘reasonably necessary’ for performing its duties.” post on x.
What to know about CFPB here:
What is the Consumer Financial Protection Bureau?
CFPB is an agency that “protects users in unfair, deception, or malicious ways and [takes] Action against law -breaking companies, “according to the Bureau’s website.
According to its website, Congress and President Barack Obama formed a bureau after signing the Dood-Freenk Wall Street Reform and Consumer Protection Act, commonly known as the Dood Frank Act in July 2010.
It was Created According to the CFPB website, “by stabilizing consumer financial security officials in seven different federal agencies, increasing accountability in the government,” according to the CFPB website. It was born in the context of recent recession, which is the longest recession after World War II, according to Federal Reserve HistoryThis happened between December 2007 and June 2009.
According to CFPB, it has since been formed, the agency has provided more than $ 21 billion for financial compensation, principal reduction, canceled loans and more than 205 million consumers or consumer accounts. –
According to the US Federation of America, under the administration of former President Joe Biden, the agency returned more than $ 6 billion to consumers and fined another $ 3.2 billion.
Who is Russell Pravit?
He is the Director of the White Office of Management and Budget and Acting Director of CFPB.
The bureau has announced a reduction in funds when Trump fired at the end of Rohit Chopra, the head of the Consumer Financial Protection Bureau, appointed Biden. January.
This is not the first time the vote has worked with Trump.
During Trump’s first presidency, White played a role like a director and was responsible for the following:
- Monitoring the President’s Budget
- Reviewing Federal Regulations
- Determination of financing priorities for executive agencies
There is also a vote Former Vice President of Heritage Action for the United StatesFoundation’s sister organization policy is responsible for Blue Print, Project 2025, Heritage Foundation.
Executive Power has been given the task of writing a chapter, arguing that the president’s powers are limited by the “vast federal bureaucracy” that performs his own policy plans and priorities.
Trump tapped for the role in November, when Trump said in November that “the way to end the deep state and eliminate the weapons -powered government is fine.”
Elon Musk, legislators react to CFPB workstop page
Massachusetts Sen, Elizabeth Warren, who played a major role in making CFPB, wrote in A, “Voting is giving green lights to major banks and giant corporations to scam.” post on x. “The Consumer Financial Protection Bureau has returned more than $ 21 billion to fraudulent families through Wall Street. Republicans have failed to compete with this in this Congress and the courts. They will fail again.”
Elon Musk, which was made A “Special Government employee“And guides her Department of Government PerformanceDodge, has also posted on CFPB, X, on the social media website.
“CFPB rip,” he Is written On Friday, a tomb of a tomb.
Contributions: Sudisha Kochi; USA today
