Russell Vought has been appointed acting director of the Consumer Financial Protection Bureau (CFPB) following the firing of former director Rohit Chopra by President Trump. Vought, a former director of the Office of Management and Budget under the first Trump administration, has been a vocal advocate for limiting the scope of federal regulatory agencies. His appointment marks a significant shift in leadership at the CFPB, which has traditionally played a central role in consumer financial oversight.
PBG’s Peter Idziak spoke with several news outlets about the CFPB change in leadership and what may happen next.
“As acting director, Russell Vought is likely to redirect the Bureau’s regulatory and enforcement towards a more common-sense approach that focuses on targeting direct harms to consumers and away from what many felt was a heavy-handed focus on social policy issues outside the Bureau’s direct mandate,” said Idziak. “Although Elon Musk has called for the CFPB to be deleted, that would require an act of Congress. However, acting director Vought could minimize the Bureau’s activities through reductions in staff, reduced funding requests to the Fed, and continuing [Scott] Bessent’s ban on continuing existing or opening new enforcement actions.”
Peter’s commentary can be found in the following media outlets:
- HousingWire: A timeline of what’s happening in the CFPB under Trump
- National Mortgage Professional: CFPB’s Days Numbered?
- Scotsman Guide: Project 2025 architect named CFPB director