Bloomberg Law
Feb. 15, 2019, 10:31 AM

Fewer Consumer Finance Cops Examining Banks Under Trump

Evan Weinberger
Evan Weinberger
Assistant Managing Editor

The Consumer Financial Protection Bureau has opted not to fill a number of critically important staff positions that have become vacant since the Trump administration took control in late 2017, including jobs devoted to directly policing financial institutions.

Supervision and examination staff at the CFPB’s Washington headquarters, for example, fell by a third from 60 in October 2017 to 39 at the end of 2018, according to bureau staff directories obtained through a Freedom of Information Act request. Overall, bureau headcount has dropped nearly 11 percent since the departure of former Director Richard Cordray in November of 2017.

The staff ...