The acting director of the Consumer Financial Protection Bureau has opened a “tip line” for financial institutions and other businesses to report on bureau staff engaged in regulatory or enforcement activities despite being ordered to cease all work.
The “CFPB tip line” was launched on X last week. “Are you being pursued by CFPB enforcement or supervision staff, in violation of Acting Director Russ Vought’s stand-down order?” reads the tip line’s X profile. “If so, DM us or send an email.”
Vought, who is also director of the Office of Management and Budget, last week ordered all CFPB staff to cease all activities. The validity of the tip line was confirmed by Vought on his X account.
The Trump administration has sent mixed messages about the CFPB’s future. Vought has directed the Federal Reserve not the appropriate the bureau’s next round of funding and Trump said his goal is to eliminate the agency. However, the president also nominated former FDIC board member Jonathan McKernan as the bureau’s next director. There are also at least two lawsuits challenging the president’s authority to unilaterally shut down the bureau without congressional authorization.
