The top remaining enforcement official at the United States Consumer Financial Protection Bureau (CFPB) has tendered her resignation, saying the White House’s overhaul of the agency has made her position untenable.
Acting Enforcement Director Cara Petersen, who has served at the agency since its creation nearly 15 years ago, said that current leadership under US President Donald Trump “has no intention to enforce the law in any meaningful way”, according to an email first obtained by the Reuters news agency.
“I have served under every director and acting director in the bureau’s history and never before have I seen the ability to perform our core mission so under attack,” Petersen wrote in an email.
“It has been devastating to see the bureau’s enforcement function being dismantled through thoughtless reductions in staff, inexplicable dismissals of cases, and terminations of negotiated settlements that let wrongdoers off the hook.”
Petersen’s departure comes four months after the agency’s enforcement and supervision chiefs also resigned amid efforts by President Donald Trump to dismantle the CFPB.
An agency spokesperson and Petersen did not immediately respond to requests for comment. In addition to seeking to cut the CFPB’s workforce by about 90 percent, acting Director Russell Vought and chief legal officer Mark Paoletta have said they will slash agency enforcement and supervision and have dropped major CFPB enforcement cases en masse, including against Capital One and Walmart. The agency has even revised some cases already settled under the prior administration.
United Arab Emirates Dirham Exchange Rate
