RSSThe Trump administration recently asked a federal appeals court to cut the current workforce of the Consumer Financial Protection Bureau 50 percent, according to a court filing.
The request to reduce the bureau’s staffing to 556 employees from 1,174 was filed April 1 in the U.S. Court of Appeals for the District of Columbia Circuit. The CFPB had 1,758 employees in 2024, up 5 percent from the year before, according to the bureau’s annual financial report. The CFPB had 1,200 employees as of the end of January, down 30 percent from the 1,750 who were employed before Trump’s second term started.
A nearly 50 percent cut in CFPB funding was included in the One Big Beautiful Bill Trump signed on the Fourth of July. The reduction included a cut in the CFPB operating budget cap to 6 1/2 percent of the Federal Reserve operating expenses from 12 percent. The cuts especially impacted the agency’s supervision division, with staffing levels for overseeing financial institutions and nonbank lenders dropping to 77 from over 500.
In a separate case, CFPB Director Russell Vought announced he intends to request $75.8 million from the Fed to fund the bureau through the first six months of this year. Vought’s request came a few weeks after a federal judge ruled the Trump administration’s position that it could not request more funding for the CFPB was unlawful.
