Employees of the Consumer Financial Protection Bureau (CFPB) are receiving layoff notices as part of a reduction-in-force initiative by the Trump Administration. This move follows a federal appeals court ruling, allowing agency leaders to determine unnecessary positions. The announcement coincides with a memo from the chief legal counsel suggesting a shift in focus to state-level enforcement and a return to prioritizing banks and depository institutions. Despite these layoffs, an injunction remains against dismantling the agency entirely, ensuring data protection and workspace provisions for staff.
"This RIF action is necessary to restructure the Bureau's operations to better reflect the agency's priorities and mission," read one of the notices seen by NPR.
The layoffs come after the agency's chief legal counsel sent a memo to CFPB employees on Wednesday evening that sets a new direction for the bureau.
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