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The Consumer Financial Protection Bureau has cut 90 percent of its employees
The Consumer Financial Protection Bureau has been reduced to a skeleton crew of about 200 employees.
The department, which was created to oversee banks and financial institutions, has cut about 1,500 jobs, leaving about 200 employees and reducing the agency by about 90 percent. The bureau has been ordered to deprioritize subjects including consumer data, digital payments, medical debt and student loans. The Office of Management and Budget's Acting Director Russell Vought had signaled that the bureau's days may be numbered when he ordered all of its "supervision and examination activity" to stop in February.
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