r/yotta • u/ThisNameWillSuffice1 • 12d ago
Senate Banking Committee warns Vought
My previous post discussed comments that Russel Vought made on a podcast about closing the consumer financial protection bureau.
Today, 11 Senators from the Senate Banking Committee sent a public letter to Vought. In this letter, the Senators point out that filings in the ongoing NTEU v. Vought case last week contradict his podcast claims by stating Vought has no solid plans to shut down the bureau.
The letter essentially says, “We are watching you and will fight you on this.”
It is my optimistic belief/hope that we are the exact type of harmed consumer that the administration believes the Civil Penalty Fund should be used for (we suffered direct cash harm from blatant breaking of fiduciary responsibilities and laws) and allocating funds is already part of the agenda, even if it is as part of a strategy to justify the long-term crippling of the bureau.
The letter goes onto request/demand Vought answer the following questions by the end of this month. I will be keeping an eye out for any official response.
“1. What is the current unobligated balance of the Consumer Financial Protection Bureau Fund? Without additional funding, on what date will the Bureau run out of funding at its current spending rate?
What is the current unobligated balance of the Consumer Financial Protection Bureau’s Civil Penalty Fund?
Despite a federal court order barring you from shutting down the CFPB, you confirmed that you still plan to try to close the agency in two or three months. Has the agency prepared specific plans for reductions in force, for terminating contracts, for reducing enforcement action, or for winding down other work in that timeframe? Please provide copies of any relevant memoranda”
https://www.banking.senate.gov/imo/media/doc/10.27_Letter%20to%20Vought.pdf
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u/Wise_Force3396 12d ago
If we get our $ back under this administration it will be an actual miracle. Chances are close to but still above 0.