Trump: We got rid of the CFPB

The one week closure of the CFPB may last longer than previously suggested. The President on Monday talked about the CFPB’s existence in the past tense. While speaking rather candidly on his feelings about Senator Warren, he said of the recent orders freezing the CFPB’s operations: “We did the right thing. [The CFPB] was a very important thing to get rid of.”

When a reporter requesting clarification asked him: “Your goal is to get it totally eliminated?” Trump responded by saying “Yeah because we’re trying to get rid of waste, fraud, and abuse.”

Just days earlier Acting Director Russell Vought ordered the agency’s offices be closed for a week and that all employees refrain from work of any kind.

Small business lenders and MCA funders were scheduled to begin collecting data in accordance with the CFPB’s 888-page rule book starting this July.