The fight for the future of the CFPB, explained
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The Logoff is a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.Welcome to The Logoff. Hope you had a good weekend. Today Im focusing on the Trump administrations efforts to erase a consumer watchdog agency, both because the agency has an important mission and because the fight for its future has ramifications for the broader struggle over President Donald Trumps efforts to reshape the government.Whats going on? The administration is trying to dismantle the Consumer Financial Protection Bureau (CFPB), the federal agency that polices financial services companies (including debt collectors, payday and mortgage lenders, credit reporting companies, and some banks) for customer abuse and fraud. Over the weekend, acting CPFB Director Russell Vought, a Trump appointee, told staff to stop working, essentially paralyzing the agency. By this morning, the agencys headquarters was closed to almost all employees. Is that legal? Congress created the CFPB in 2010 as part of its response to the 2008 financial crisis, and it would take another act of Congress to abolish it.Whats next? The CFPB employees union sued Vought on Sunday, asking a federal judge to immediately freeze Voughts order and to eventually overturn it. So far, no ruling has been issued.Why does this all sound familiar? The anti-CFPB moves closely mirror the administrations attempt to shutter the US Agency for International Development another dismantling thats being contested in court.Whats the broader context? The Trump administration is asserting its right to do away with executive branch agencies whose goals it disagrees with, even if those agencies existence is protected by federal law. Thats a power grab that would take more authority away from Congress and hand it to Trump.Trumps opponents are asking the courts to block these efforts. So far, judges have several times ordered the administration to stop while cases are considered, but final rulings have not yet come down. Well keep tracking them and keep you posted.And with that, its time to log off ...Difficult times are good times to bring people together, but planning a party can be a lot of stress. It doesnt, however, have to be a lot of stress. Skeptical? I was too. But when my colleagues 93-year-old grandmother spelled it out, it helped me see how to bring people together without making myself miserable.Youve read 1 article in the last monthHere at Vox, we're unwavering in our commitment to covering the issues that matter most to you threats to democracy, immigration, reproductive rights, the environment, and the rising polarization across this country.Our mission is to provide clear, accessible journalism that empowers you to stay informed and engaged in shaping our world. By becoming a Vox Member, you directly strengthen our ability to deliver in-depth, independent reporting that drives meaningful change.We rely on readers like you join us.Swati SharmaVox Editor-in-ChiefSee More:
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