Over 100 employees at the CFPB have been laid off this week, with agency staff concerned about additional cuts to jobs.
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Reports indicate that between 70 to 100 employees of the Consumer Financial Protection Bureau (CFPB) were laid off on Thursday. This information comes from three current employees who chose to remain anonymous due to fears of retribution.

The laid-off employees were on temporary contracts, which typically run for two to four years at the CFPB. These recent terminations followed an earlier layoff of about 73 employees reported by NPR earlier this week.

Two of the dismissal letters, shared with NPR by various current and former staff, informed them that their employment ended “due to Executive Order Implementing The President’s ‘Department of Government Efficiency’ Workforce Optimization Initiative – The White House dated February 11, 2025.”

CFPB staff have heard rumors about additional significant layoffs scheduled for Friday.

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Laurel Wamsley is covering events at the CFPB. If you have information, you can reach her securely via Signal at laurel.96.

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Many within and outside of the agency express concern that fulfilling CFPB’s legal obligations will be exceedingly difficult if the workforce is drastically reduced.

Prior to the recent layoffs, CFPB had around 1,700 employees. Earlier in the week, about 73 probationary staff — those employed for less than one or two years — were also let go.

The National Treasury Employees Union, which represents CFPB employees, has filed a lawsuit against Russell Vought, the acting director of the CFPB. The National Consumer Law Center, the NAACP, and other organizations have joined the lawsuit.

Protestors demonstrate outside the CFPB headquarters in Washington, D.C. on February 10, 2025, against the Trump administration’s approach to the agency.
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The legal complaint submitted states, “The defendants are also preparing for another wave of terminations, potentially affecting over 95% of the Bureau’s workforce, which would impede its ability to fulfill its mandated functions.”

CFPB has been a consistent target

Created in the aftermath of the 2008 financial collapse under the Dodd-Frank Act, CFPB has faced significant scrutiny. It is obliged to adhere to many legal requirements. An analysis from the Student Borrower Protection Center and the Consumer Federation of America identifies 87 different Congressional mandates that the CFPB is expected to uphold.

These mandates encompass its primary mission, aimed at regulating consumer financial products or services under federal laws, as well as specific obligations such as setting up a dedicated office for managing consumer complaints through a website and toll-free number.

Recently, the Trump administration and Elon Musk’s Department of Government Efficiency, an unofficial entity, have intensified their focus on the CFPB, employing strategies reminiscent of those used to dismantle USAID.

Following the administrative actions at USAID where nearly all staff were placed on administrative leave—a status currently paused by a federal ruling until at least February 21—the current layoffs at CFPB coincide with President Trump nominating Jonathan McKernan as the next director, aimed at replacing Vought, the acting director who only assumed his role last week.

CFPB has experienced turmoil since last week after staff received orders from Vought to halt all operations, leading to the agency’s headquarters being closed for the entire week.

Many Republican officials have long sought to dismantle the CFPB since its establishment due to its perceived stringent regulations on banks, payment platforms, and financial services. The agency operates under the Federal System and is funded by the Federal Reserve.