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.

The upheaval at the Consumer Financial Protection Bureau has many advocates concerned about financial abuse and fraud.

The Trump administration is moving forward with plans to drastically curtail the work of the government’s consumer finance watchdog after a legal victory, including by slashing the vast majority of the agency’s workforce.