The CFPB Work Freeze Is Putting Big Tech Regulations ‘On Ice’

The cease-work order at the Consumer Financial Protection Bureau won’t just affect lawsuits and enforcement actions. It will stall regulation that could govern tech companies like Apple and Google.

Acting Consumer Financial Protection Bureau director Russell Vought has demanded all bureau staffers to halt investigations, enforcement, rulemaking, research, and public statements in two emails sent Saturday and Monday that were reviewed by WIRED. He also forbade CFPB workers from making court appearances, other than to pause or postpone proceedings.

The move put an abrupt halt to several active lawsuits and investigations against companies accused by the CFPB of defrauding consumers, and the drafting of possible regulations that would oversee the activity of Big Tech companies with financial products such as Apple Pay, Google Pay, and Venmo.

According ...