Russell Vought, the newly appointed OMB Director, has instructed the CFPB to suspend nearly all activities, including supervision of financial firms. This decision followed a memo advising CFPB employees to work remotely due to the agency's Washington D.C. headquarters closure from Feb. 10-14. Vought criticized the CFPB's funding as excessive, declaring a freeze on new funding and oversight. The announcement has heightened concerns regarding the agency's future amid reports of Elon Musk's DOGE operatives gaining access to CFPB data. Musk's connection to the administration raises potential conflicts of interest, underscoring tensions around the CFPB's consumer protection role.