The CFPB's top enforcer departs with a scathing email criticizing Trump.

robot
Abstract generation in progress

The acting director of the Consumer Financial Protection Bureau (CFPB), Cara Petersen, has resigned, accusing the Trump administration of undermining the agency's mission.

In a farewell email, Petersen stated that cutting 90% of the workforce has made it difficult for the CFPB to carry out its mission of protecting consumers. This agency was established after the 2008 financial crisis to oversee financial companies and prevent abusive practices. The dismantling of the CFPB could lead to less oversight in the cryptocurrency industry, where fraud continues to occur. Many Republicans believe the CFPB holds too much power, while Democrats see it as an essential department. The appellate court is reviewing the legality of the layoffs at the CFPB.

The top official of the CFPB departs with a scathing email criticizing Trump

A0.89%
TRUMP1.24%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)