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The director of the Office of Administration and Budget, Russell Vought, is now also the interim director of the Office of Financial Protection of the Consumer, where he has ordered the personnel who do not issue any new rule, who suspends the effective dates of all the final rules and stop any new research.
Vought, also author of the 2025 project, was appointed interim director of the CFPB on Friday.
“I am honored that President Trump has appointed me as an interim director of the office on February 7, 2025,” Vought said in an email to CFPB colleagues obtained by REALCLEARPOLITICS. “As an interim director, I am committed to implementing the president’s policies, consisting of law and acting as a faithful to office resources.”
He issued several directives that, with immediate effect, must be followed by all employees, contractors and other CFPB personnel “unless the interim director or required by law”, in accordance with RealclearPolitics.
Russell Vaught speaks during an audience of the Senate Budget Committee on his nomination, in Capitol Hill in Washington, on Wednesday, January 22, 2025. (Jacquelyn Martin/AP)
The directives include not approving or issuing any proposed or final rule or formal or informal orientation and so that the office suspends the effective dates of all the final rules that have been issued or published but have not entered into force.
Vought also ordered the office not to “begin, take research activities related to or resolve compliance actions.” CFPB should not open any new research in any way and any pending probe should cease, he said.
The interim director said that the CFPB will not issue public communications of any kind, including research work.
Russell Vought is sworn during the Senate Banking Committee Nomination Hearing in Dirksen’s Senate building on January 22, 2025 in Washington, DC (Kayla Bartkowski/Getty images)
In addition, the CFPB should not approve or execute any material agreement, including those related to employee issues or contractors, and should not approve presentations or apparitions of the office in any litigation, except to request a pause in the procedures.
It was also told the office to cease all supervision and examination activity and that all the participation of the interested parties cease.
Vought also sent a letter to the Federal Reserve Not requesting money for the third quarter of the fiscal year of CFPB 2025.
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Russell Vought testifies during the Nomination Hearing of the Senate Banking Committee in the Dirksen Senate building on January 22, 2025 in Washington, DC (Kayla Bartkowski/Getty images)
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“In accordance with the consumer’s financial protection law, I have notified the Federal Reserve that CFPB will not take its next raffle for not appropriate funds because it is not” reasonably necessary “to carry out its functions,” Vought wrote in X. ” Office’s’s the current balance of $ 711.6 billion is, in fact, excessive in the current fiscal environment.
This comes after Vought was Senate confirmed Thursday to lead the administration and budget office.
Fox News Digital has communicated with CFPB to make more comments.
