CFPB Terminates Dozens of Term Employees, Including 70 Enforcement Division Attorneys, and Cancels $100 Million in Contracts

The Consumer Financial Protection Bureau (CFPB) has initiated a staff purge, resulting in the termination of approximately 70 probationary employees, including attorneys from its enforcement division. This action marks a significant shift in the agency's approach, as it has also canceled contracts with all expert witnesses involved in ongoing enforcement litigation. Furthermore, the CFPB plans to eliminate over $100 million in contracts across the agency, indicating a potential scaling back of its enforcement activities. These developments were confirmed by multiple sources, including reports from CNBC and CNN.