Russ Vought, tapped as CFPB’s acting director, directs bureau to issue no new rules, stop all investigations

Office of Management and Budget director Russell Vought has taken on a new role as the acting director of the Consumer Financial Protection Bureau (CFPB). In his new position, Vought has wasted no time in implementing significant changes within the agency. He has directed staff to halt the issuance of any new rules, suspend the effective dates of all final rules, and cease any new investigations.

Vought, who is also known for his work as a Project 2025 author, was appointed as the acting director of the CFPB on Friday. In an email to CFPB colleagues obtained by RealClearPolitics, Vought expressed his honor at being designated as the Acting Director and emphasized his commitment to implementing President Trump’s policies while ensuring compliance with the law and responsible stewardship of the Bureau’s resources.

Among the directives issued by Vought are strict guidelines that must be followed by all CFPB personnel unless expressly approved by the Acting Director or required by law. These directives include the suspension of all proposed or final rules, formal or informal guidance, and investigations. The bureau is also instructed to halt any pending probes and refrain from issuing public communications or research papers.

In addition to these measures, Vought has ordered the CFPB to refrain from approving or executing any material agreements, including those related to employee matters or contractors, and to abstain from making or approving filings or appearances in litigation, except to request a pause in proceedings. The agency is also required to halt all supervision and examination activities as well as stakeholder engagement.

Furthermore, Vought has sent a letter to the Federal Reserve requesting no funding for the CFPB’s third quarter of fiscal year 2025, citing the agency’s excessive balance of $711.6 billion as unnecessary in the current fiscal environment. This decision comes on the heels of Vought’s recent confirmation by the Senate to lead the Office of Management and Budget.

As these changes take effect, Fox News Digital has reached out to the CFPB for further comment on the developments within the agency under Vought’s leadership. It is clear that significant changes are underway at the CFPB under Vought’s direction, signaling a new era for the agency’s operations and priorities.