Cara Petersen, acting enforcement director of the Consumer Financial Protection Bureau (CFPB), has resigned, criticizing the Trump administration for undermining the agency's essential functions. In her farewell email, Petersen expressed concerns over severe staff reductions and the dismantling of enforcement capabilities, stating she had never witnessed such an attack on the CFPB's mission. She highlighted that attempts to cut 90% of the workforce have made it difficult to ensure financial products are fair and transparent for consumers. Petersen condemned the administration's disregard for regulatory enforcement, describing the situation as devastating. The CFPB, established after the 2008 financial crisis, plays a crucial role in regulating financial companies and safeguarding consumer rights. The resignation reflects a wider trend of regulatory unpredictability under Trump, which could have implications for sectors like cryptocurrency, given the agency's oversight on related complaints. The judicial system is currently reviewing whether the Trump administration’s actions to limit the CFPB’s operational capacity can be legally pursued.

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