The U.S. Consumer Financial Protection Bureau dismissed several probationary employees on Tuesday, as directed in termination letters confirmed by sources familiar with the situation. This action is part of the recent efforts by President Donald Trump's administration to make significant changes at the agency.
Over the weekend, the CFPB, a subject of controversy for conservatives and the financial sector since its inception in 2010, was instructed by acting chief Russell Vought to halt all "supervision and examination activity" and proposed cutting the agency's funding for the upcoming quarter.
Requests for comments made outside of regular working hours to the Office of Management and Budget, where Vought serves as director, went unanswered.
In response, the White House released a statement on Monday criticizing the CFPB's past actions, describing the agency as a "weaponized arm of the bureaucracy" that targeted certain industries and individuals out of favor with the so-called elites.
One termination memo, dated February 11 and originating from Adam Martinez, the agency's acting chief human resources officer, informed an employee that they were being let go due to their skills and qualifications not aligning with the agency's current needs.
These terminations, a possibility discussed across the federal government, are part of the administration's broader strategy to restructure the CFPB, following a request for agencies to evaluate probationary employees and recommend whether they should be retained.
Elizabeth Aniskevich, a senior litigation counsel in the enforcement division hired in June of the previous year, confirmed receiving a termination notice alongside other colleagues on the same day. She expressed her qualifications for the role, citing her academic and professional achievements, including ranking in the top 5% of her law school class and having extensive experience in securities fraud and civil rights litigation.
Last week, Trump appointed Vought as the acting director of the agency overseeing financial services. Shortly after, Vought instructed staff to stay away from the office and cease all work.
Additionally, key officials in enforcement, supervision, and the deputy director were placed on administrative leave, according to an individual with knowledge of the situation.