CFPB closes the DC offices this week. Read the E-mail to the staff.

• CFPB employees received an email on Sunday telling them not to come to the office next week.
• DC workers have been invited to work at a distance until further notice.
• The new acting director of the CFPB, Russell Vought, interrupted the work of the agency on Saturday.

A key consumption dog could be the next target of the cost reduction program by President Donald Trump.

On Sunday, employees of the Consumer Financial Protection Bureau received an email from Adam Martinez, the agency’s operations chief, telling the employees based on DC to work remotely next week.

“The DC headquarters building will be closed this week (2 / 10-2 / 14). Employees and entrepreneurs must work remotely, unless otherwise indicated by our interim director or his representative,” said the email, seen by Business Insider.

We do not know when, if not at all, the headquarters of DC will reopen. The White House did not immediately respond to a request for BI comments.

Trump dismissed Rohit Chopra, the director of the CFPB under former president Joe Biden on February 1. The Treasury Secretary Scott Bessent assumed the role of acting director of the agency until the director of management and the Russell Vought budget took charge of the role on Saturday evening.

The CFPB was created in 2011 to protect consumers against financial crises. He has taken action and surveillance measures on large banks and lenders, returning billions of dollars to consumers. Vought ordered employees to stop almost all the work of the agency in an email on Saturday, including its supervision activities which guarantee that companies comply with the law.

A CFPB employee told BI that the order had caused the end of the agency’s order to stop.

Vought has also written in an article on X on Saturday that the CFPB “will not take its next financing draw not appreciated because it is not” reasonably necessary “to exercise its functions”.

The CFPB receives its funding from the Federal Reserve rather than through the annual process of Congress credits, which has been criticized by many GOP legislators who declared that Congress should supervise the agency’s financing.

“This tap, which has long contributed to the disadvantage of the CFPB, is now deactivated,” said Vought.

Adam Rust, director of financial services of the Federation of Non -Lucrative Consumers of America, previously told BI that the closure of the CFPB would have “real ramifications for people’s portfolios”. The agency had rules to cap the overdraft costs and remove the medical debt from credit reports, which are now suspended.

Elon Musk, the head of the Trump Doge commission responsible for reducing government waste, has targeted a range of agencies in the past two weeks. A federal judge temporarily prevented Trump’s administration from placing more than 2,000 USAID workers on paid leave while the administration has taken measures to close the agency.

“CFPB RIP,” wrote Musk on X last week.

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