{"id":5616,"date":"2025-02-19T12:37:38","date_gmt":"2025-02-19T18:37:38","guid":{"rendered":"https:\/\/niada.com\/dashboard\/?p=5616"},"modified":"2025-02-19T12:37:38","modified_gmt":"2025-02-19T18:37:38","slug":"cfpb-layoffs-paused-hearing-set-for-march","status":"publish","type":"post","link":"https:\/\/niada.com\/dashboard\/cfpb-layoffs-paused-hearing-set-for-march\/","title":{"rendered":"CFPB layoffs paused; hearing set for March"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A pause is in place on the layoffs at the Consumer Financial Protection Bureau along with a temporary protection to its funds and records.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After a case was brought forth by the <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.dcd.277287\/gov.uscourts.dcd.277287.19.0_1.pdf\" target=\"_blank\" rel=\"noopener\">National Treasury Employees Union against Russell Vought<\/a>, the acting CFPB director, Judge Amy Berman announced an agreement for a temporary restraining order on firings at the agency, the transfer of its reserve funds and any destruction of records.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A hearing will be held on the case March 3.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agreement with the Trump Administration follows a hectic series of events surrounding the agency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After a short stint as acting director of the agency by Scott Bessent, Vought, the leader of the Office of Management and Budget, took over at the CFPB. <a href=\"https:\/\/www.cnbc.com\/2025\/02\/09\/consumer-financial-protection-bureau-staff-to-work-remotely-hq-shuttered.html\" target=\"_blank\" rel=\"noopener\">Vought ordered a halt to the agency\u2019s work<\/a> and the closing of its offices, according to reports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/x.com\/russvought\/status\/1888423503537360986\">Vought also said on X<\/a> he notified the Federal Reserve that the CFPB would not be taking its draw of funding.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe Bureau\u2019s current balance of $711.6 million is in fact excessive in the current fiscal environment. This spigot, long contributing to CFPB\u2019s unaccountability, is now being turned off,\u201d Vought said on X.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He also stated on X that the \u201cCFPB has been a woke and weaponized agency against disfavored industries and individuals for a long time.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">President Donald Trump nominated Jonathan McKernan to take over the agency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Dodd-Frank Act Wall Street Reform and Consumer Protection Act passed by Congress in 2010 created the CFPB. It was in reaction to the 2008 financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"A pause is in place on the layoffs at the Consumer Financial Protection Bureau along with a temporary&hellip;\n","protected":false},"author":1,"featured_media":4850,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-5616","post","type-post","status-publish","format-standard","has-post-thumbnail","category-industry","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/5616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/comments?post=5616"}],"version-history":[{"count":0,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/5616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media\/4850"}],"wp:attachment":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media?parent=5616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/categories?post=5616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/tags?post=5616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}