Fox News has mentioned the Consumer FInancial Protection Bureau only a handful of times since Russell Vought, a key architect of Project 2025, took over as acting director on February 7.
Last week, President Donald Trump appointed Russell Vought — a principal architect of Project 2025 who had been confirmed by the Senate to lead the Office of Management and Budget — as the acting director of the CFPB. Upon assuming his role, Vought ordered the CFPB's 1,700 employees to cease nearly all work and closed the agency's headquarters on February 10. He also halted approval processes for proposed rules, ongoing investigations, and public communications, effectively neutralizing the bureau's operations. Vought's actions so far at CFPB tracks the stated objectives for the bureau in Project 2025, a conservative policy blueprint designed to hollow out federal agencies.
The CFPB, established in 2011 after the 2008 financial crisis in an effort to protect consumers from predatory financial practices, has long been a target for conservatives who view it as a site of government overreach. Dismantling the agency removes essential safeguards for Americans, like the Biden-era protections against surprise overdraft fees, reforms to the student loan servicing market, transformations in mortgage lending rules, and the enforcement of repayments to victims of fraud from banks and money transmitters.