The Consumer Financial Protection Bureau’s Trump-appointed leadership plans to fire nearly all its 1,700 employees while “winding down” the agency, according to testimony from employees.

Employees testified that CFPB leaders and Elon Musk’s DOGE want to wind down the agency to five employees, the minimum required under law.

Federal employees from the Consumer Financial Protection Bureau (CFPB) have raised concerns that the bureau’s Trump-appointed leadership and Elon Musk’s Department of Government Efficiency (DOGE) intend to execute massive layoffs.

The U.S. Consumer Financial Protection Bureau on Friday dropped an enforcement action against the consumer credit bureau TransUnion, adding to the embattled agency's mass dismissal of cases against financial companies accused of cheating consumers.

The Consumer Finance Protection Bureau has dropped several enforcement actions against companies like Capital One and Rocket Homes, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.

The consumer watchdog has dropped one of its last cases launched before the current Trump administration, which has been accused of trying to defang the agency.