The Consumer Financial Protection Bureau (CFPB) announced it will continue its supervision of financial institutions on a limited basis in 2026, a reversal from efforts by the Trump administration to shut it down.
Reuters reports that although the agency’s staffing has been significantly reduced, it will continue its operations. Last week, the White House nominated Stuart Levenbach, an associate director in the Office of Management and Budget (OMB), to become the next CFPB director. Russ Vought, the OMB director, has been running the agency on an interim leadership basis.
The CFPB also announced that its supervision division examiners will not be required to read a “Humility Pledge” to each supervised entity before conducting exams. In a press statement, the CFPB stated, “Where these exams were previously done with unnecessary personnel, outrageous travel expenses, and with the thuggery pervasive in prior leadership, they will now be done respectfully, promptly, professionally, and under budget. No longer will the CFPB Supervision Division ask invasive and irrelevant questions, demanding expansive information they do not need.”
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