Even if the Trump administration initiates a massive reduction-in-force at the CFPB, industry attorneys believe the bureau won’t shut entirely and will still be able to do its job.
Even though an appeals court lifted the block preventing mass layoffs at the CFPB, a drastic reduction-in-force may not happen immediately, attorneys said.
The court found that ESSA Bank & Trust hasn’t substantially complied with the DOJ’s 2023 consent decree, contrary to assertions by the Trump administration.