In recent weeks, the Consumer Financial Protection Bureau (CFPB) has experienced significant leadership and operational changes that have introduced a degree of uncertainty within the regulatory landscape. On February 1, 2025, President Trump dismissed CFPB Director Rohit Chopra, citing a need for a fresh direction at the agency. Shortly thereafter, Treasury Secretary Scott Bessent was named the agency's director and wasted no time in making sweeping changes. Within days of his appointment, Bessent ordered a halt to all CFPB activities, effectively freezing ongoing investigations, regulatory actions, and rulemaking efforts. This directive left many industry stakeholders wondering about the future of the CFPB’s enforcement mechanisms and whether existing regulatory frameworks would remain intact.

By February 10, 2025, Acting Director Russell Vought took the unprecedented step of instructing all CFPB staff to cease operations entirely. He ordered the Washington headquarters closed, a move that further underscored the administration’s commitment to limiting the agency’s role in financial regulation. The closure raised questions about the status of consumer complaints, pending enforcement actions, and the future of federal oversight in key financial sectors. The pause in regulatory functions left a temporary void in federal consumer protection efforts, effectively shifting the burden of oversight to state regulatory agencies and private litigation.