Dozens of employees at the bureau were fired by email on Tuesday night amid a stop-work order and closure of the Consumer Financial Protection Bureau's headquarters.
The directors of supervision and enforcement at the Consumer Financial Protection Bureau stepped down, citing the stop work orders issued by Russell Vought, the agency's new acting director.
The edict comes as Russell Vought takes over at the Consumer Financial Protection Bureau. Vought has ordered work to halt at the consumer finance watchdog, and is cutting off new funding.
Tariffs are now in effect on goods from China, and imports from Canada and Mexico could be next (again). Americans are likely to see higher prices on a wide variety of products as a result.
The staff at the Consumer Financial Protection Bureau was instructed by email to cease much of its work. Bessent, a wealthy Wall Street investor, replaces Rohit Chopra, who was fired on Saturday.
Rohit Chopra had led the Consumer Financial Protection Bureau since 2021. Consumer groups praised his leadership, while Republicans have frequently attacked the agency.
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