The DOJ in a court filing accused the CFPB employee union of twisting a stop work order at the bureau as being part of a “coordinated campaign” by the Trump administration to eliminate the CFPB.
The bureau has so far dismissed lawsuits against Capital One, Heights Finance, Rocket Homes, Pennsylvania Higher Education Assistance Agency and Vanderbilt Mortgage and Finance.
Senate Democrats are seeking answers from Elon Musk, head of the Department of Government Efficiency, and CFPB Acting Director Russell Vought regarding potential financial conflicts.
Financial entities who fail to comply with the Home Mortgage Disclosure Act’s requirements are at risk of enforcement actions by a future Democratic administration or at the state level.
All work at the CFPB, including supervision and examination activities, has ceased following an order by the bureau’s new acting director. Several rulemakings are also on pause.
The order, reached following a scheduling conference, also prohibits the administration from deleting data held by the CFPB and from transferring money from the bureau’s reserve funds.