The Consumer Financial Protection Bureau sent out a reduction-in-force notice to more than 1,500 workers on Thursday, according to reporting from Fox Business. The figure is about 88% of the agency’s staff, along with a 50 percent reduction in its financial inspection operations.
The CFPB will be left with about 200 remaining employees to carry out the agency’s mission. Employees were informed they would lose system access by 6 p.m. on April 18, with separation from federal service set for June 16, unless they qualify for other available roles.
The cuts come after an agency memo sent out on Wednesday, reviewed by the Washington Examiner, informed staff that the agency will cut its inspections of financial services companies in half.
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The shift prioritizes initiatives impacting
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