Russell Vault, director of management and budgets, is currently acting director of the Consumer Financial Protection Agency, instructing staff not to issue new rules, suspending effective dates for all final rules; It instructs new investigations to be stopped.
Vought, who is also the author of Project 2025, was appointed acting director of the CFPB on Friday.
“I am honored that President Trump designated me as the agency director on February 7, 2025,” Vought said in an email to a colleague at CFPB, obtained by RealClearPolitics. “As an acting director, I am committed to implementing the President’s policies, consistent with the law and acting as a loyal custodian of the Bureau’s resources.”
According to RealClearPolitics, he issued several directives.
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Russell Vote will speak at a hearing on Wednesday, January 22, 2025 on the nomination of the Senate Budget Committee at Capitol Hill, Washington (Jacqueline Martin/AP)
The directive includes not approving or issuing proposals or final rules or formal or informal guidance, and suspending the effective date of all final rules that have not been issued or published but not in effect. It will be available.
Vought also ordered the department not to launch, conduct investigative activities or resolve enforcement actions. The CFPB should launch new investigations in any way. He said he would need to stop the pending probe.
The acting director said the CFPB would not publish any type of public communications, including research papers.
Russell Vert was sworn in Washington, DC (Kayla Bartkowski/Getty Images) at a Senate Banking Committee nomination hearing at the Darksen Senate Building on January 22, 2025.
Furthermore, the CFPB must not approve or execute any material contracts, including those relating to employee issues or contractors. Additionally, it must not be submitted or made or approved by the public in a lawsuit, except to seek a suspension of proceedings.
The department was also told to cease all supervision and examination activities and to stop all stakeholders from engagement.
Vought also sent a letter to the Federal Reserve that did not demand money in the third quarter of 2025, the CFPB.
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Russell Vought testifies at a Senate Banking Committee nomination hearing in Washington, DC (Kayla Bartkowski/Getty Images) at the Darksen Senate Billville on January 22, 2025.
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“According to the Consumer Financial Protection Act, the CFPB has notified that the next CFPB will not attract inaccurate funds as it is “not reasonably necessary” to perform its duties,” Vought wrote in X. Masu. In the current fiscal environment, the current balance of $711.6 billion is excessive.
This comes after he led the Department of Management and Budget after being confirmed by the Senate on Thursday.
Fox News Digital reached out to CFPB for further comment.
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