Office of Management and Budget Director Russell Vought is now also the acting director of the Consumer Financial Protection Bureau, where he has instructed personnel not to give new rules, to suspend effective data from all final rules and to stop new investigations.
Vought, also a 2025 -author project, was called acting director of the CFPB On Friday.
“I am honored that President Trump designated me as acting director of the office on 7 February 2025,” Vought said in an e -mail to CFPB colleagues obtained by RealClear Politics. “As an acting director, I am dedicated to the implementation of the president’s policy, in accordance with the law and action as a loyal steward of the resources of the office.”
He has issued various guidelines that must be immediately followed by all employees, contractors and other CFPB staff “, unless explicitly approved by the acting director or legally required,” according to RealClearPolitics.
Russell Vought speaks during a hearing of the Senate budget about his appointment, on Capitol Hill in Washington, Wednesday, January 22, 2025. (Jacquelyn Martin/AP)
The guidelines include not approving or issuing proposed or final rules or formal or informal guidelines and for the agency to suspend effective data from all the definitive rules that have been issued or published, but have not come into force.
Vought also ordered the agency not to start, to take research activities with regard to or enforcement actions. “CFPB may not open a new investigation in any way and have to stop in anticipation of probes, he said.
The acting director said that the CFPB will not issue public communication of any kind, including research documents.
Russell Vought is sworn in during the nomination of the Senate Bank Committee in the Dirksen Senate Building on January 22, 2025 in Washington, DC (Kayla Bartkowski/Getty images)
Moreover, the CFPB may not approve or perform material agreements, including those with regard to employee cases or contractors, and may not submit the submissions or appearances by the office in a court case, except to request a break in a procedure.
The agency was also told to stop all supervision and research activities and to stop all the involvement of stakeholders.
Vought also sent a letter to the Federal Reserve applying for no money For the third quarter of the CFPB of the tax year 2025.
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Russell Vought testifies during the nomination of the Senate Bank Committee in the Dirksen Senate Building on January 22, 2025 in Washington, DC (Kayla Bartkowski/Getty images)
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“Based on the Consumer Financial Protection Act, I informed the Federal Reserve that CFPB will not take its next draw of not -suitable financing because it is not ‘reasonably necessary’ to perform its duties,” Vough wrote on X. “The agencies The current balance of $ 711.6 billion is in fact excessive in the current tax environment.
This is after Vough was confirmed by the Senate On Thursday to lead the Office of Management and Budget.
Fox News Digital has contacted CFPB for more comments.
