The Director of the Office of Management and Budget, Russell Vought, has ordered the stop to nearly all work of the Consumer Financial Protection Bureau (CFPB). This agency was created to protect consumers from the predatory behaviors of financial institutions after banks and insurance companies nearly destroyed the world's economy after building a kind of economic Ponzi Scheme in the years leading up to 2007 and 2008. After its creation it tackled fraud of every kind and returned billions of dollars to victims.
Millions of Americans suffered during the financial crisis, and this bureau was created to prevent that from happening again.
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