CURRENT EVENTS - TAX DAY - April 18

Nearly 90% of Consumer Financial Protection Bureau cut as as Trump’s government downsizing continues​



“… Roughly 1,500 employees will be cut from the CFPB, leaving around 200 people, according to an administration official who wasn’t authorized to disclose the figure publicly and spoke on condition of anonymity.

… Employees started receiving layoff notices on Thursday. Their access to agency systems, including email, ends on Friday evening.

“The Consumer Financial Protection Bureau identified your position being eliminated and your employment is subject to termination in accordance with reduction-in-force (RIF) procedures,” the emails said.

The CFPB was created after the 2008 financial crisis and subprime mortgage-lending scandal. The CFPB has been a top target of Elon Musk and his Department of Government Efficiency. Russell Vought, who runs the Office of Management and Budget, ordered the agency to stop nearly all of its work in February.…”
 

Nearly 90% of Consumer Financial Protection Bureau cut as as Trump’s government downsizing continues​



“… Roughly 1,500 employees will be cut from the CFPB, leaving around 200 people, according to an administration official who wasn’t authorized to disclose the figure publicly and spoke on condition of anonymity.

… Employees started receiving layoff notices on Thursday. Their access to agency systems, including email, ends on Friday evening.

“The Consumer Financial Protection Bureau identified your position being eliminated and your employment is subject to termination in accordance with reduction-in-force (RIF) procedures,” the emails said.

The CFPB was created after the 2008 financial crisis and subprime mortgage-lending scandal. The CFPB has been a top target of Elon Musk and his Department of Government Efficiency. Russell Vought, who runs the Office of Management and Budget, ordered the agency to stop nearly all of its work in February.…”
“… “To focus on tangible harms to consumers, the Bureau will shift resources away from enforcement and supervision that can be done by the States,” he wrote.

Problems with mortgages will be the top priority, while issues involving medical debt, student loans and digital payments will receive less attention, according to Paoletta. …”
 
“… “To focus on tangible harms to consumers, the Bureau will shift resources away from enforcement and supervision that can be done by the States,” he wrote.

Problems with mortgages will be the top priority, while issues involving medical debt, student loans and digital payments will receive less attention, according to Paoletta. …”
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“White House officials are preparing executive orders that would strip some environmental nonprofits of their tax-exempt status, setting up a possible Earth Day strike against organizations seen as standing in the way of President Donald Trump’s push for more domestic oil, gas and coal production.

The effort, described by people familiar with the matter, comes alongside other administration moves to use the US tax code or government funding to single out groups that oppose the president’s agenda. It also follows years of scrutiny by congressional Republicans who have accused prominent green groups and other advocacy organizations of having ties to foreign governments and drawing funding from China.

… On Thursday, the president suggested that the White House could go further by revoking the tax-exempt status of other organizations, saying his administration will soon be “making some statements” about groups that are “so rich, so strong, and then they go so bad.”

The president specifically invoked the nonprofit watchdog group Citizens for Responsibility and Ethics in Washington, saying “the only charity they have is going after Donald Trump.” Separately, congressional Republicans in a hearing last year singled out Code Pink, the League of Conservation Voters and the Natural Resources Defense Council for scrutiny.

Any attempt to revoke tax-exempt status for prominent green groups would likely draw legal challenges, and it is unclear the effort would survive a court battle. …”

 
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