A US judge has stopped the Donald Trump administration from closing the Consumer Financial Protection Bureau (CFPB). This agency was created to protect consumers from financial fraud. The Trump administration was planning to make it completely bonded.
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District Judge Amy Berman Jackson issued an interim order on Friday, which will maintain the agency until a final decision is taken on the trial. The judge said that the court can take action to protect this agency from closure and it should take steps.
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Rohit Chopra was removed from the post of CFPB director on February 1 by President Donald Trump. After this, the process of closure of the agency started and the employees got orders to stop the work. On March 10, when the case was heard in the court, Chief Operations Officer Adam Martinez had said that the agency is in a position to close and after Trump’s order, there is chaos.
After dismissing Chopra, he was replaced by a new temporary director, who stopped all operations and canceled the contracts of hundred million dollars and fired 70 employees.
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Martinez said that now the current officials of the agency are working in a more disciplined manner. The situation was not correct when the representatives of the Government Efficiency Department of Allen Musk reached CFPB headquarters last month. CFPB works to protect consumers from financial fraud and misleading practices. It was created by the US Congress (Parliament) after the 2008 economic recession. This resolves the complaints of consumers and by examining banks, ensure safety of students borrowers.
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