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CFPB shutdown sees enforcement and proposed rules on hold, lawsuits begin

Image is of Senator Elizabeth Warren (D-MA) who helped spearhead the ideas of a federal consumer financial protection agency over 15 years ago.
Senator Elizabeth Warren speaking up for the CFPB. Photo: Anna Moneymaker/Getty Images

Julie DiMauro

2 min read
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The financial watchdog was intended to protect people from being ripped off by banks and other institutions.

The Trump administration has ordered the Consumer Financial Protection Bureau (CFPB) to end almost all of its work, basically shuttering an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.

Russell Vought, the newly installed director of the Office of Management and Budget, directed

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