{"id":63582,"date":"2026-07-17T03:00:20","date_gmt":"2026-07-17T01:00:20","guid":{"rendered":"https:\/\/housesmarketplace.com\/awaiting-the-cfpbs-next-act-ahead-of-voughts-departure\/"},"modified":"2026-07-17T03:00:20","modified_gmt":"2026-07-17T01:00:20","slug":"awaiting-the-cfpbs-next-act-ahead-of-voughts-departure","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/awaiting-the-cfpbs-next-act-ahead-of-voughts-departure\/","title":{"rendered":"Awaiting the CFPB\u2019s next act ahead of Vought\u2019s departure"},"content":{"rendered":"
\n

Nearly 15 years after opening its doors in the wake of the financial crisis, the \u0411\u044e\u0440\u043e \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u043e\u0439 \u0437\u0430\u0449\u0438\u0442\u044b \u043f\u043e\u0442\u0440\u0435\u0431\u0438\u0442\u0435\u043b\u0435\u0439<\/strong> (\u0426\u0424\u041f\u0411<\/a>) is operating in a markedly different form than it did just a year ago.<\/p>\n

Since the Trump administration took over at the start of 2025, the agency\u2019s operations have been in limbo. In February 2025, \u0420\u0430\u0441\u0441\u0435\u043b \u0412\u043e\u0443\u0442<\/a>, an architect of the conservative policy blueprint Project 2025 and the head of the \u0431\u0435\u043b\u044b\u0439 \u0434\u043e\u043c <\/strong>Office of Management and Budget (OMB), was named the new acting head of the CFPB.\u00a0<\/p>\n

Vought quickly suspended<\/a> most agency operations, closed the bureau\u2019s headquarters and announced he would halt its funding. Two months later, the administration moved to eliminate roughly 90%<\/a> of the CFPB\u2019s workforce, triggering a legal battle that temporarily blocked the layoffs. A federal appeals court later allowed the reductions to proceed, leading to about 1,500 employees<\/a> being dismissed.<\/p>\n

During an October 2025 appearance on \u201cThe Charlie Kirk Show,\u201d Vought vowed to eliminate the agency. The following month, President Donald Trump nominated Stuart Levenbach<\/a>, an associate director at the OMB, to serve as CFPB director.\u00a0<\/p>\n

But in January 2026, the \u0421\u0435\u043d\u0430\u0442<\/strong> returned Levenbach\u2019s nomination to Trump without taking action, a procedural move that allows Vought to remain at the agency\u2019s helm<\/a> through Aug. 1, when his authority under the Federal Vacancies Reform Act expires.<\/p>\n

Vought has defended his wind-down of the agency\u2019s operations. In testimony<\/a> this week before the \u0414\u043e\u043c<\/strong> Financial Services Committee, Vought said the CFPB had overstepped its congressional mandate, creating unnecessary costs for consumers and financial institutions. He also argued that the bureau\u2019s current funding structure has contributed to what he called a \u201ccavalier attitude\u201d and a \u201cswagger\u201d in the workplace.<\/p>\n

The agency, which will mark its 15th anniversary on July 21, now faces another turning point as Vought\u2019s reign is set to expire. On June 10, the White House nominated Brian Johnson<\/a>, a former CFPB deputy director under Kathy Kraninger<\/a>, to serve as director of the CFPB. As of July 16, the nomination is still pending.\u00a0<\/p>\n

Activity at the lower-profile bureau<\/h2>\n

Johnson\u2019s nomination and the approaching expiration of Vought\u2019s tenure have renewed questions about the bureau\u2019s future. Staff reductions and shuffling, coupled with Vought\u2019s scaled-back enforcement agenda and the agency\u2019s avoidance of the public spotlight, have fueled speculation that the agency has largely ceased functioning.\u00a0<\/p>\n

Unlike previous administrations, where \u043c\u0435\u0440\u044b \u043f\u0440\u0438\u043d\u0443\u0434\u0438\u0442\u0435\u043b\u044c\u043d\u043e\u0433\u043e \u0438\u0441\u043f\u043e\u043b\u043d\u0435\u043d\u0438\u044f<\/a>, settlements and policy initiatives frequently made headlines, the bureau under Vought has released relatively little information about its day-to-day operations.<\/p>\n

\u041c\u0430\u0440\u043a\u0441 \u0421\u0442\u0435\u0440\u0431\u043a\u043e\u0432<\/a>, the managing attorney of \u042e\u0440\u0438\u0434\u0438\u0447\u0435\u0441\u043a\u0430\u044f \u0433\u0440\u0443\u043f\u043f\u0430 \u0421\u0442\u0435\u0440\u0431\u043a\u043e\u0432<\/strong> and owner of the RESPA Resource Law Center<\/strong>, said the bureau is \u201cstill functioning\u201d and continues to bring cases, but its emphasis has narrowed to issues with a clearer federal nexus, including protections for \u0432\u0435\u0442\u0435\u0440\u0430\u043d\u044b<\/a> and elderly consumers.<\/p>\n

At the same time, Sterbcow said the CFPB has deliberately pushed more mortgage- and real estate-related matters to states to avoid duplicative oversight of the same firms by multiple regulators.<\/p>\n

\u201cThere are Civil Investigative Demands that are still going out; you just don\u2019t hear about them,\u201d Sterbcow said. \u201cInternally, the way the bureau has looked at it is that the states have multiple regulators looking at all of these different things, so instead of having six or seven regulators involved, they push some of this work off to the states so it doesn\u2019t overburden the bureau from a regulatory perspective.\u201d<\/p>\n

As the CFPB has pulled back from some areas, Sterbcow said state attorneys general and financial regulators have dramatically increased their activity. \u201cI\u2019ve never been busier with state enforcement actions than I have been over the last three years,\u201d he said.\u00a0<\/p>\n

But the states taking on more isn\u2019t necessarily a bad thing. \u201cIn my own practice, I\u2019ve seen increased activity at both the state attorney general level as well as state banking regulators who do exams and the like,\u201d said Lucy Morris, a partner at Hudson Cook LLP.\u00a0<\/strong><\/p>\n

Sterbow added: \u201cEven when consumer complaints were going to the bureau, a lot of the process felt like a rubber stamp to move the file and bring up the numbers. It was more of a data play than anything else, and many consumers told me they felt that way because their disputes were closed out without any meaningful resolution.\u201d<\/p>\n

When asked about how consumers are perceiving the bureau\u2019s lack of public enforcement actions, Morris said she still hears about \u201cmotivated\u201d consumers submitting complaints.\u00a0<\/p>\n

\u201cI don\u2019t know how the average consumer perceives what\u2019s happening in \u0412\u0430\u0448\u0438\u043d\u0433\u0442\u043e\u043d<\/a>. I think consumers are still making complaints,\u201d she said. \u201cSo I think if consumers have issues, and they\u2019re motivated, they will complain to everyone they can complain to get relief, so I don\u2019t know that that\u2019s really affected how consumers are behaving.\u201d<\/p>\n

A shift from dismantling to reform?<\/h2>\n

Johnson\u2019s nomination, however, tells a different story. Morris pointed out that nominating someone with as much relevant background and experience as Johnson could signal that the administration is shifting away from efforts to significantly curtail the CFPB\u2019s operations.<\/p>\n

\u201cHe\u2019s certainly qualified, and I think somebody who, at least based on my understanding, is not looking to destroy the agency,\u201d Morris said. She added that Johnson \u201cwould take this nomination seriously and intend to fill that role.\u201d<\/p>\n

Richard Horn, co-managing partner at \u0413\u0430\u0440\u0440\u0438\u0441 \u0425\u043e\u0440\u043d LLP<\/strong>, agrees that the nomination represents the tide turning from reducing the agency\u2019s footprint to focusing on regulatory change.\u00a0<\/p>\n

\u201cBrian Johnson has such a substantial amount of experience in consumer financial regulation,\u201d Horn said. \u201cYou wouldn\u2019t need to put somebody with that complete subject matter expertise at the agency just to basically undertake shutting it down; you would put somebody with that subject matter expertise if you wanted to engage in regulatory reform.\u201d<\/p>\n

Morris said Johnson\u2019s previous service as deputy director under Kraninger could offer clues about his approach if he is confirmed.<\/p>\n

\u201cI think you would see [Johnson] being supportive of innovation and trying to have clear rules of the road for fintechs and others,\u201d she said. \u201cUnder Kathy Kraninger, there were a lot of enforcement actions, so I think you would have a return to enforcement and supervision, and not crazy stuff, but focus on the \u043c\u043e\u0448\u0435\u043d\u043d\u0438\u0447\u0435\u0441\u0442\u0432\u043e<\/a> side of things.\u201d<\/p>\n

Morris also suggested political considerations could have influenced Johnson\u2019s nomination.\u00a0<\/p>\n

\u201cMaybe another reason he was nominated is that midterm [elections] are coming and in a couple of years, you\u2019ll have another presidential election, and I think that part of the bureau\u2019s mission is to kind of protect consumers around issues relating to affordability, and so shutting the agency down isn\u2019t really maybe may not be the message that folks want out there right now,\u201d she said. <\/p>\n

\u201cI think that nominating somebody like Brian Johnson leaves the impression that the agency will stay in place and maybe return to normalcy, in a sense.\u201d<\/p>\n

But despite the nomination and Johnson\u2019s experience, Horn said there appears to be little urgency to secure Johnson\u2019s confirmation because CFPB deputy director Mark Paoletta \u2014 who also serves as general counsel for the OMB \u2014 has been overseeing the agency\u2019s day-to-day operations during Vought\u2019s tenure. <\/p>\n

If Johnson\u2019s nomination doesn\u2019t pull through before Aug. 1, Paoletta would most likely take the acting director role. \u201cThe administration\u2019s probably comfortable with the personnel that are there now,\u201d Horn added.\u00a0<\/p>\n

Even so, Horn said, confirming a permanent director could become increasingly important if the administration hopes to complete new rulemaking processes before the end of Trump\u2019s second term.\u00a0<\/p>\n

\u201cWith only a little over two years left in the administration, for new proposals that they want to finalize, they need to start working on them,\u201d he said. \u201cIt\u2019d be helpful to have a permanent director who has as much experience as Brian Johnson has to do that.\u201d<\/p>\n

Business as usual for lenders<\/h2>\n

From the perspective of one mortgage lender, the day-to-day impact of the CFPB\u2019s quieter posture has been limited so far, said Dani Ploch, chief operating officer of DAS Acquisition Co.<\/strong>, a dba of USA Mortgage<\/strong>.<\/p>\n

\u201cFrom a practical level, we\u2019re kind of conducting business as usual,\u201d she said. \u201cThere\u2019s a lot of uncertainty, no clear direction. So from our perspective, we\u2019re operating as though there hasn\u2019t been much adjustment at the CFPB level.\u201d<\/p>\n

Much of the industry\u2019s anxiety is centered on the possibility that states will move<\/a> to fill any perceived gaps in federal oversight. That uncertainty has left lenders looking for clear direction out of Washington rather than a patchwork of state-level edicts.<\/p>\n

\u201cWe would love for there to still be more precise national guidance,\u201d she said. \u201cBut until we have confirmed direction from what\u2019s happening at the CFPB, we\u2019re just on pins and needles, waiting for what the states are going to come out with.\u201d<\/p>\n

Ploch said the Johnson nomination is viewed less as a dramatic policy shift and more as a potential source of clarity for regulated firms.<\/p>\n

\u201cThere\u2019s just so much uncertainty, and any direction that can be given as soon as we have somebody confirmed, regardless of who that is, lenders can work within a framework,\u201d she said. \u201cI don\u2019t know what that framework looks like right now, but that\u2019s what we\u2019re looking for, and I think many financial institutions are.\u201d<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Nearly 15 years after opening its doors in the wake of the financial crisis, the Consumer Financial Protection Bureau (CFPB) is operating in a markedly different form than it did just a year ago. Since the Trump administration took over at the start of 2025, the agency\u2019s operations have been in limbo. 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