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Russ Vought, tapped as CFPB's acting director, directs bureau to issue no new rules, stop new investigations

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Russell Vought, acting director of the Consumer Financial Protection Bureau, has directed staff to not issue any new rules and to stop any new investigations.
Russ Vought, who was tapped as the acting director of the Consumer Financial Protection Bureau (CFPB), has directed the bureau to halt the issuance of new rules and to stop initiating new investigations. This move comes as part of a broader strategy to review and potentially realign the CFPB's activities with the new administration's policies. Vought, previously known for his role in the Office of Management and Budget, aims to ensure that the CFPB's actions align with the administration's deregulatory agenda, focusing on reducing what they perceive as regulatory overreach. This directive has sparked concerns among consumer advocates about the potential weakening of consumer protections, while supporters argue it will reduce burdens on businesses.

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