NEWS: Senator Blunt Rochester Questions Acting Director Vought on Cuts to CFPB, Impacts on Consumer Protection

“This is supposed to be a watchdog agency. People should be able to go there and find information that helps them.” Click here to watch Senator Blunt Rochester’s Remarks U.S. Senator Lisa Blunt Rochester (D-Del.), a member of the Senate Committee on Banking, Housing, and Urban Affairs, today questioned Acting Director of the Consumer Financial Protection Bureau (CFPB), Russell Vought, on the Trump administration’s cuts to the Bureau and potential impacts on consumers. Acting Director Vought has attempted to cut CFPB staff capacity by over 50 percent and has paused much of the Bureau’s ongoing rulemaking and enforcement activity. Senator Blunt Rochester focused her questions on efforts to protect servicemembers from predatory lenders, cuts to guidance that improves background screening, and limitations to consumer protection. Senator Blunt Rochester’s remarks can be found here , and a key excerpt can be found below: Senator Blunt Rochester: “Is a Military Lending Act violation against an active-duty service member actual consumer harm by your definition?” Acting Director Vought: “Of course and we prioritize it in our guidance.” Senator Blunt Rochester: “Can you tell me, since you’ve been in the position, has the enforcement increased, decreased, or stayed the same?” Acting Director Vought: “Well, it’s specific in terms of enforcement versus supervision and how we deal with — We take it very seriously.” Senator Blunt Rochester: “You say you take it seriously. It’s in your humility pledge. Has it increased, decreased, or stayed the same since you’ve been there?” Acting Director Vought: “I believe that we have a heightened focus on military families.”