Federal Appeals Court Deals Blow to Trump Administration's Plans to Gut Consumer Financial Protection Bureau In a major setback for the Trump administration, a federal appeals court has blocked the immediate implementation of drastic workforce cuts at the Consumer Financial Protection Bureau (CFPB). The U.S. Court of Appeals for the District of Columbia Circuit has granted the administration's request to return the case to the District Court, but has rejected its bid to reinstate staff reductions that had been put on hold. The CFPB, established in the wake of the 2008 financial crisis, has been a key target of the Trump administration's efforts to roll back financial regulations. The court's decision is a significant victory for consumer advocates and a temporary reprieve for the bureau's employees, but the battle over the CFPB's future is far from over.
A federal appeals court on Friday blocked the Trump administration from immediately cutting the workforce at the Consumer Financial Protection Bureau (CFPB). The U.S. Court of Appeals for the District of Columbia Circuit granted the administration’s motion to return the case to the District Court. However, it rejected the administration’s request to resume staff cuts...
