Agency CFPB wrapping up remaining casework ahead of anticipated widespread job terminations

The Consumer Financial Protection Bureau (CFPB), established to safeguard American households from financial exploitation, is undergoing its steepest retrenchment since its founding. This shift, led by acting director Russell Vought, has left hundreds of millions of dollars in compensation for Americans harmed by illegal financial practices in limbo or at risk of cancellation.

An investigation by the Consumer Federation of America (CFA) revealed that over $360 million in compensation owed to affected Americans is at stake. The CFPB, under its current leadership, is closing nearly all unresolved compliance issues identified by its examiners, potentially leaving some industries with fewer checks and balances.

The CFPB is also shutting down MRAs (Matters Requiring Attention) en masse, often without verifying whether the problems were ever addressed. This move comes as Trump-appointed leaders prepare to fire nearly 90% of the agency's workforce and as the CFPB's budget has been cut in half, affecting its exam and enforcement capacity.

Eric Halperin, senior fellow at CFA, expressed concern, stating, "In case after case, the Trump CFPB has taken the side of Wall Street over working families." He further added, "The agency's job is to protect Americans, not to offer a laundry list of corporate pardons."

The CFPB is reversing previous victories and returning fines and penalties to companies, totaling more than $120 million in redress to affected consumers. In three recent cases, the companies were explicitly relieved of any obligation to pay restitution, and in a fourth case, the financial penalty was dramatically reduced with little explanation.

Moreover, without meaningful exam work, many financial violations may go unnoticed, leaving households at risk. This shift could leave Americans more vulnerable to financial abuse. The CFPB is also beginning a rulemaking this month to exclude major auto lenders, credit bureaus, and money transfer companies from oversight, which could result in less scrutiny for some of the industries with the highest rates of disputes.

As of August 2025, the current acting head of the CFPB is not explicitly named in the provided search results, and there is no direct information available about who is leading the agency. However, the ongoing changes at the CFPB are raising concerns about the protection of American consumers in the financial sector.