The Consumer Financial Protection Bureau (CFPB) has successfully returned over $21 billion to consumers since its establishment after the Great Recession but is now facing serious operational disruptions. Recently, Russell Vought was appointed as the head of the Office of Management and Budget, also becoming the acting director of the CFPB. Simultaneously, Elon Musk's team accessed CFPB's internal systems, jeopardizing its ability to enforce financial laws. These developments pose risks to the CFPB's mission of protecting Americans from fraudulent financial practices.
"We are a relatively small group of government employees who enforce federal financial laws, including by bringing cases against those who violate them."
"Since the CFPB's creation in the wake of the Great Recession, we've returned over $21 billion to the pockets of hardworking Americans-money that was taken from them by businesses flouting the law."
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