The Consumer Financial Protection Bureau plans to deprioritize several areas including medical debt, The Wall Street Journal reported April 17.
In a memo sent to staff, the agency’s chief legal officer said the CFPB would focus on fraud with “consumer damages as opposed to matters based on the Bureau’s perception that consumers made ‘wrong’ choices,” according to the report.
The memo said that the agency would focus clearly within its statutory authority and, in addition to medical debt, would also prioritize student loans, digital payments and peer-to-peer platforms and lending.
The Trump administration is also seeking to eliminate about 1,500 jobs at the agency, but a federal judge temporarily halted the cuts April 18, The Hill reported. A follow-up hearing is scheduled for April 28.
The CFPB was created after the 2008 financial crisis and had 1,758 employees as of Sept. 30, according to The Wall Street Journal.
