The NYT reports that CFPB employees were instructed to cease “all supervision and examination activity” and “all stakeholder engagement,” effectively stopping the agency’s operations, in an email from the director of the Office of Management and Budget, Russell Vought, on Saturday evening.The agency, created by Congress in 2011 as a financial industry watchdog, cannot be closed without congressional action, but its director can freeze most of its actions by halting enforcement, weakening or repealing regulations and softening its supervision of banks and other lenders. The agency did not immediately respond to an emailed request for comment on Saturday.https://www.nytimes.com/2025/02/08/us/politics/cfpb-vought-staff-finance-watchdog.html