WASHINGTON (AP) — Over the weekend, some staff members at the Consumer Financial Protection Bureau saw a sign of trouble to come.
Windows in two basement conference rooms were covered with brown paper and blue painter’s tape, concealing their occupants. Voices could be heard inside discussing cuts to government agencies. When the door was cracked open, there were young people with temporary badges.
It was fresh evidence that the agency, which was created to protect Americans from financial fraud, abuse and deceptive practices, was the newest target of Elon Musk and his Department of Government Efficiency. Now the Washington headquarters is shut down for the week, and there are fears that it will be gutted like the U.S. Agency for International Development.
Pictures of the conference rooms were viewed by The Associated Press, and the scene was described by two current employees who spoke on the condition of anonymity because they feared retaliation. The secrecy contradicts insistence by the White House that Musk is transparently fulfilling President Donald Trump’s goal of downsizing the federal government.
Russ Vought, Trump’s budget chief, sent an email to employees on Monday morning saying they should “not perform any work tasks.” They were directed to contact the top lawyer for the Office of Management and Budget “to get approval in writing before performing any work task.”
Vought is also serving as the bureau’s acting director. The previous director, Rohit Chopra, was fired by Trump, a Republican, on Feb. 1.
Vought’s message followed one on Saturday evening that ordered the bureau to “cease all supervision and examination activity.”
The Consumer Financial Protection Bureau, or CFPB, was created after the 2008 financial crisis and subprime mortgage-lending scandal. Officials said that it has obtained nearly $20 billion in financial relief for U.S. consumers since its founding in the form of canceled debts, compensation and reduced loans.
However, the bureau has been a target of conservatives for years, and some businesses have chafed at its investigations and regulatory oversight.
On Friday night, Musk posted “CFPB RIP” on X, his social media platform. He added an emoji of a tombstone.
When another person expressed approval of the plan, Musk wrote “they did above zero good things, but still need to go.”
Since Congress created the CFPB, it would need to pass additional legislation to formally eliminate it. However, agency leadership can decide what enforcement actions to take, if any.
Democrats and progressives expressed outrage over the Trump administration’s decision to target the CFPB.
“Elon Musk and Russ Vought aren’t just testing the limits of the law — they’re shattering them, daring anyone to stop them,” said Leah Greenberg, co-executive director of the activist group Indivisible. “This attack on the Consumer Financial Protection Bureau is illegal, unconstitutional, and a blatant power grab by billionaires who want to rig the system even further in their favor.”
