'Vought Should Resign,' CFPB Workers Say of 'Pledge' to Be Nice to Wall Street Fraudsters

“Why is Russell Vought showing the world his weird, creepy pledge of allegiance to big corporations? Have some dignity, Russell."

That's what Consumer Financial Protection Bureau Union member Alexis Goldstein said on Monday about the CFPB acting director's new "humility pledge" that examiners with the agency's Supervision Division will be forced to read to financial institutions before conducting reviews next year.

Several other CFPB Union members joined Goldstein in blasting Vought's pledge, including treasurer Gabe Hopkins, who said that "whoever wrote this has never even spoken to an examiner before, only been wined and dined by industry lobbyists."

The lengthy pledge states in part that the CFPB's "goal is to work collaboratively with the entities to review entities' processes
for compliance and/or remedy existing problems," and the agency "is doing so by encouraging self-reporting and resolving issues in Supervision, where feasible, instead of via Enforcement."

CFPB Union president Cat Farman inquired: "Is this fan fiction I'm reading? What's next, 'Russell Vought Tells CFPB Examiners to Serve Tea to Their Wall Street Masters in Tiny French Maid Aprons'?"

"Instead of traumatizing CFPB workers with his roleplay fantasies," Farman argued, "Vought should resign so we can finally do our jobs protecting Americans from Wall Street fraud again."

Vought—also the Senate-confirmed director of the Office of Management and Budget, a role he previously held during President Donald Trump's first term—has unsuccessfully tried to shutter the CFPB completely this year.

As the New York Times reported Monday:

The new pledge is, for now, mostly symbolic. Mr. Vought halted nearly all work at the bureau shortly after his arrival in February, and bank examinations have not resumed. The agency's hundreds of examiners have been told to spend their time closing out all open matters; they are currently barred from initiating new ones.

And Mr. Vought has refused to request money for the consumer bureau from the Federal Reserve, which funds its operations. The bureau warned in court filings that it would run out of operating cash early next year.

In a Friday statement announcing the pledge, the Vought-led agency claimed that under the Biden administration, the Supervision Division "was the weaponized arm of the CFPB."

The agency added that "where these exams were previously done with unnecessary personnel, outrageous travel expenses, and with the thuggery pervasive in prior leadership, they will now be done respectfully, promptly, professionally, and under budget."

Given that Vought "stopped all supervision exams in 2025, refuses to fund CFPB, and says he's shutting us down by 2026," CFPB Union member Doug Wilson asked: "So how will we supervise banks in 2026 if CFPB is closed? How can bank exams be 'under budget' if there is no budget?"

Ripping Vought's pledge and press release as "incredibly disrespectful to Supervision's dedicated workers," fellow CFPB Union member Tyler Creighton said that the pair of documents also "misunderstands or misconstrues Supervision's prior work."

"Supervision's workers have always conducted examinations professionally, efficiently, conscientiously, and with a focus on remedying consumer harm," Creighton said. "We will continue to do so as soon as Donald Trump and Vought end their 10-month suspension of examinations and let us get back to work for the American people."

Another CFPB Union member, Steve Wheeler, highlighted that "they're trying to make it sound like it’s groundbreaking to send notifications of exams ahead of time and keep data pulls relevant to the examined area, when those are things we already do."

Originally proposed by now-Sen. Elizabeth Warren (D-Mass.), the CFPB was created in the wake of the 2008 financial crisis via the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed in 2010 by then-President Barack Obama.

Warren joined the CFPB Union members in calling out the new pledge, declaring that "Donald Trump is Wall Street first."

Union member Ravisha "Avi" Kumar pointed out that "under previous administrations, CFPB examiners protected consumers from banks, like Wells Fargo, that incentivized their employees to cut corners and overlook consumer harm. CFPB forced the banks to return that stolen money to consumers."

"Ironically, under this administration, Vought says he will incentivize examiners to rush jobs (cut corners) and stick to the surface (overlook consumer harm)," Kumar added. "How is that still consumer financial protection?"

The pledge announcement came a day after CFPB officials told staff that much of the agency workforce will be furloughed at the end of the year and that remaining consumer litigation will be sent to the US Department of Justice (DOJ).

"This is Russ Vought's latest illegal power grab in his ongoing plan to shut down the CFPB and protect CEOs instead of consumers," said Farman. "CFPB attorneys are afraid DOJ will dismiss these cases."

"Vought's already helped Wall Street swindle $18 billion from Americans this year," the union leader continued. "If Vought is going to keep refusing to fund CFPB in order to illegally dismantle the agency, while he wastes over $5 million of CFPB's dwindling budget on personal bodyguards, then it's time for Congress to impeach and remove Russell Vought from power."