Roughly 1,500 employees — or almost 90% of the agency's staff — will be cut from the CFPB, leaving around 200 people, according to an administration official who wasn't authorized to disclose the figure publicly and spoke to the Associated Press on condition of anonymity. Fox Business first reported the number of layoffs.

President Donald Trump is drastically shrinking the workforce and mission of the Consumer Financial Protection Bureau, eviscerating an agency created after the Great Recession with the goal of protecting Americans from fraud,