Trump’s Plan to Shut Down CFPB: What It Means for Consumers
The Trump administration, alongside Elon Musk’s Department of Government Efficiency (DOGE), is pushing forward plans to shut down the CFPB and fire nearly all its employees, according to newly released testimonies.
Federal employees reported in statements Thursday that mass layoffs were a key topic in recent meetings. The Consumer Financial Protection Bureau (CFPB), originally established to protect consumers after the 2008 financial crisis, is now facing an uncertain future.
According to testimony, the plan involves a three-phase layoff strategy: first, terminating probationary employees, followed by a wave of 1,200 job cuts, and finally, reducing the remaining staff to just five legally mandated positions. One executive reportedly stated that the CFPB would be reduced to “a room at Treasury, White House, or Federal Reserve with five men and a phone.”
The abrupt dismantling of the CFPB could have widespread consequences for consumer financial protections. Vapers who rely on fair regulations for product safety—such as Raz Vape Flavors and emerging Raz Zero Nicotine options—may face less oversight on industry standards. Additionally, those looking for unique blends like Raz Cherry Strapple Flavor may need to navigate a more deregulated market.
The agency’s fate now rests with an upcoming court hearing, where decisions on the legality of these cuts will be debated. Will the CFPB survive this sweeping reform, or is its dissolution inevitable?
