Resignation at CFPB: Enforcement Official Steps Down Amid Overhaul

The top enforcement official, Cara Petersen, at the U.S. Consumer Financial Protection Bureau resigned, citing untenable working conditions due to the White House's overhaul. The current administration, under President Trump, aims to significantly reduce the agency's workforce and enforcement functions, raising concerns among stakeholders.

Cara Petersen, acting Enforcement Director at the U.S. Consumer Financial Protection Bureau, has resigned, highlighting challenges within the agency under the Trump administration's tenure. Petersen's decision comes in response to significant restructuring she claims undermines the bureau's mission.

Petersen, a long-serving official since the agency's inception, criticized leadership for neglecting law enforcement duties. She stated, "I have never before seen our core mission so under attack," referencing the reduction in staff and the relaxation of enforcement efforts against financial wrongdoers.

Her resignation follows similar departures from senior officials amid efforts to overhaul the agency. These changes, aligned with Republican criticism, raise tensions about the CFPB's future role in consumer protection, while Democrats emphasize its necessity in overseeing financial markets.

(With inputs from agencies.)