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Congressional watchdog agency will investigate Trump's hollowing out of CFPB | CNN Politics

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A congressional watchdog agency is investigating President Donald Trump's efforts to dismantle the Consumer Financial Protection Bureau, CNN has learned, responding to Senate Democrats who are also demanding that the agency's Trump-appointed acting director turn over information about how the bureau can meet its statutory obligations amid attempts to lay off nearly 90% of its staff.
The Consumer Financial Protection Bureau (CFPB) is facing scrutiny after announcing significant budget cuts that have led to staff reductions and operational changes, as reported by CNN on April 29, 2025. The Government Accountability Office (GAO) has launched an investigation into the CFPB's financial management and decision-making processes following these cuts. Critics argue that the reductions could impair the bureau's ability to protect consumers from financial misconduct, while supporters of the cuts believe they are necessary to streamline operations and reduce government spending. The investigation aims to assess the impact of these budget cuts on the CFPB's effectiveness and compliance with federal financial regulations.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/04/29/politics/cfbp-cuts-gao-investigation/index.html ]