Russ Vought, the new head of the Consumer Financial Protection Bureau — and a top architect of Project 2025 — reportedly told its employees on February 10 to “not perform any work tasks this week,” at least temporarily shuttering an agency that has been the target of right-wing media attacks for years.
The CFPB has saved working Americans tens of billions of dollars since it was founded in 2011. As the New York Times reported, the CFBP “clawed back $21 billion for consumers. It slashed overdraft fees, reformed the student loan servicing market, transformed mortgage lending rules and forced banks and money transmitters to compensate fraud victims.” All that work is now at risk.
Calling it “one of Wall Street’s most feared regulators,” The New York Times reported on February 9 that the bureau's success has put it “squarely in the Trump administration’s cross hairs.”
Now, Vought appears to be fulfilling a Project 2025 promise — and a longtime right-wing media goal — by taking an axe to the CFPB.
Media Matters’ John Knefel wrote this piece detailing the right’s long history of attacking CFPB. I invite you to read the piece here.