Judge orders CFPB to reinstate fired employees, preserve records and get back to work

Judge orders CFPB to reinstate fired employees, preserve records and get back to work


FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019. 
Yuri Gripas | Reuters

A federal judge on Friday ordered the Consumer Financial Protection Bureau’s leadership, appointed by President Donald Trump, to halt its campaign to hobble the agency.

In a filing, Judge Amy Berman Jackson sided with the CFPB employee union which sued acting CFPB director Russell Vought last month to prevent him from laying off nearly all of the regulator’s staff. Operatives from Elon Musk’s Department of Government Efficiency have also been involved in efforts to dismantle the bureau.

Berman ordered Vought to reinstate “all probationary and term employees terminated” after Vought took over at the CFPB, and said that he shouldn’t “delete, destroy, remove, or impair agency data.”

“This order shall bind the defendants, their officers, agents, servants, employees, and attorneys, and any other persons who are in active concert or participation with them, such as personnel from the Department of Government Efficiency (“DOGE”),” Berman wrote.

This story is developing. Please check back for updates.



Source

Robinhood’s venture fund, which gives investors access to private companies, tanks 11% on first day
Finance

Robinhood’s venture fund, which gives investors access to private companies, tanks 11% on first day

Key Points The fund, which is trades under the ticker RVI, offers exposure to notable private companies such as financial services firm Revolut and software company Databricks. However, the launch comes during a tough time for public markets. Source

Read More
Fed Governor Miran says job losses in February add to the case for more interest rate cuts
Finance

Fed Governor Miran says job losses in February add to the case for more interest rate cuts

Key Points Federal Reserve Governor Stephen Miran said in a CNBC interview on Friday that the weak February jobs report bolsters the rationale for the central bank to lower interest rates further. If Miran had his way, the rate would be around neutral, which he deems to be about a full percentage point lower. Source

Read More
U.S.-Iran war exposes big market concentration risk. It isn’t in S&P 500 stocks
Finance

U.S.-Iran war exposes big market concentration risk. It isn’t in S&P 500 stocks

ETF Edge U.S.-Iran war exposes big market concentration risk. It isn’t in S&P 500 stocks Published Fri, Mar 6 202612:52 PM EST Krysta Escobar WATCH LIVE Source

Read More