The Consumer Financial Protection Bureau’s Supervision Director resigned on Wednesday after the Dodd-Frank Wall Street Reform and Consumer Protection Act

The Directors of supervision and enforcement at the Consumer Financial Protection Bureau resigned Tuesday morning due to stop work orders issued by the acting Director Russell Vought.

An employee familiar with the situation who requested anonymity because they are not authorized to comment said Halperin and Salas were put on leave before they left the White House Office of Management and Budget. NPR could not determine why Halperin and Salas were placed on leave.

The Bureau has been told to leave. I do not believe it is appropriate, nor lawful, to stop all supervisory activities and examinations, and I cannot longer serve as the Supervision Director,” Salas wrote in her email.

I don’t think I can serve my role effectively because I don’t believe I can protect American consumers. We’ve secured orders for $9 Billion in fines and remedies for consumers in the last two years. It has been a pleasure to serve with you.

The financial crisis saw the beginning of theConsumer Financial Protection Bureau in 2011. In the year before it was passed, the Dodd- Frank Wall Street Reform and Consumer Protection Act was passed by Congress. Obama appointed then-professor Elizabeth Warren to help put the agency together. Its goal was to be a watchdog over financial institutions. The new credit card law we passed to prevent unfair rate hikes and ensure that folks aren’t caught when they sign up for a checking account was praised by Obama as one way the CFPD could crack down on abusive practices. The agency has repaid $19 billion of debts to consumers who were not really their consumers by December 2024, according to the website.

The agency has been a focus of attention and ire of the administration and there have been several dramatic moves to stop the agency’s work.

Employees of Musk’s team were given access to key systems after entering the headquarters last week. The Department of Governmental Efficiency was created through one of Trump’s executive orders.

Vought told staff to cease doing the agency’s work. On Sunday, agency staff were told that CFPB’s Washington headquarters would be closed for the week and that they would not be permitted to enter. Staff and contractors were told they couldn’t do any work on Monday.

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“There’s all sorts of fraud and abuse that targets people in our country,” Chopra said, naming lawsuits it has filed against big banks like JPMorgan Chase, Bank of America and Wells Fargo.

The CFPB passed a rule essentially defining this type of peer-to-peer payment company. The rule didn’t include any actual regulations for these companies, but defining them would be the first step toward doing so in the future. To date, these companies have fallen into somewhat of a regulatory grey zone.

With Donald Trump back in the White House, and Elon Musk’s DOGE pushing a broader agenda to slash spending that could ultimately eliminate entire agencies, the CFPB’s future looks increasingly uncertain. Last Friday, a day after members of DOGE gained access to internal CFPB data, and hours before the homepage of the bureau website began displaying a 404 error message, Musk went on X and posted, “CFPB RIP 🪦.”

The move put an abrupt halt to several active lawsuits and investigations against companies accused by the CFPB of defrauding consumers, and the drafting of possible regulations that would oversee the activity of Big Tech companies with financial products such as Apple Pay, Google Pay, and Venmo.

“The CFPB can’t move those cases forward, so they’re basically on ice at the moment,” a former CFPB staffer tells WIRED, who was granted anonymity over fears of retaliation.