The Trump administration is directing federal agencies to prepare for mass layoffs of their workers, according to the heads of the White House budget office and Office of Personnel Management. Budget Director Russell Vought and acting OPM Director Charles Ezell said in the memo to the heads of departments and agencies the they will have to submit the first phase of plans for reorganization plans by March 13,

White House budget director, Russell Vought, who is also the acting director of the CFPB, instructed CFPB employees to stop investigating and processing consumer issues and to suspend any rules that were finalized,

The Trump administration directed federal agencies on Wednesday to prepare for mass layoffs, according to the heads of the White House budget and personnel management offices. Budget Director Russell Vought and Charles Ezell,

A court filing and letter from acting director Russell Vought claims the White House will not shut down the bureau, citing the nomination of a new director.

The moves were spearheaded by powerful Trump ally Elon Musk, a CFPB critic, and Russell Vought, who heads the White House’s Office of Management and Budget. The events put the future of the CFPB in doubt.

It’s taken just a few weeks in office, but the Trump administration’s apparent vision for economic populism is coming into focus: a blueprint for mass layoffs, creeping inflation, and a dissolution of consumer safeguards reviled by many wealthy Republican donors and politicians.

The Trump administration’s demand that federal agencies plan to radically downsize is driven by a key figure in the conservative movement who has long planned this move.

President Donald Trump's administration says federal agencies should begin planning to eliminate employee positions. The process is known as a reduction in force.

A new executive order gives President Donald Trump's appointees more power over independent agencies, including how the Fed regulates banks. But monetary policy will remain under the central bank's full control.