‘Completely outrageous’: CFPB ends expert witness contracts

CNN
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The consumer financial protection office has terminated contracts with multiple expert witnesses that it had hired in cases accused of harming consumers.

The decision to suddenly cancel contracts with expert witnesses suggests that the consumer control agency no longer plans to carry out these execution actions under the Trump administration.

“The richest man in the world comes to close a case in which a lender is deceiving the workers,” an expert witness was on Tuesday whose contract was canceled on Tuesday in a telephone interview, referring to ELON ALMIZCLE. “It’s completely scandalous.”

The expert witnesses requested anonymity to avoid reprisals.

“I am a little scared. They could try to sue me or send an FBI agent, ”said the first expert witness.

Another expert witness hired to find a case against a debt buyer told CNN that they had been working in the case for several years before Tuesday’s termination warning.

“It’s quite ridiculous,” said this witness.

The CFPB did not respond to a request for comments.

When the CFPB prepares to file a lawsuit against a company, it usually hires teachers, researchers and others as experts to evaluate evidence and testify against financial institutions.

“If the CFPB says goodbye to the experts who supported the statements, that suggests that the CFPB is no longer interested in presenting claims against at least some financial institutions,” said Kathleen Engel, research professor at the Law Faculty of the University of Suffolk .

Engel said that the termination of expert witnesses contracts suggests a broader policy under the new administration to stop carrying out compliance actions.

“I’ve never seen something like this,” said Engel, who served at an advisory board for the CFPB.

The movements occur a few days after CFPB leadership told employees to “delay” all work, including Fight against financial abuse.