On February 8th, COINOTAG News reported that Russell Vought has been appointed as the Acting Director of the Consumer Financial Protection Bureau (CFPB). This personnel shift occurred on a Friday night, raising eyebrows within the financial community. In a surprising move, officials from the Department of Government Efficiency (DOGE), led by Elon Musk, have taken drastic actions such as deleting the CFPB’s X account. Musk’s social media activity peaked with a cryptic tweet, stating “CFPB RIP” accompanied by a tombstone emoji.
Visitors to the CFPB official website are met with a disconcerting “404 Page Not Found” error, while certain site functionalities remain operational. Reports indicate that DOGE officials have acquired unauthorized administrative access to the CFPB’s technical infrastructure. As this regulatory drama unfolds, sentiments within the CFPB are described as “dejected and angry.” Interestingly, neither the White House nor the CFPB has issued any comments addressing these significant upheavals.