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Trump administration ends lease for consumer protection bureau's headquarters, records show
The move ends the lease at least 6 years early as the Trump administration seeks to cut the bureau’s workforce to a third of its former size.
- On Wednesday, the Office of the Comptroller of the Currency terminated the 14-year lease for the Consumer Financial Protection Bureau headquarters, transferring the property to the General Services Administration at no cost.
- President Donald Trump has called for the agency's abolition, and his administration initially sought to shutter the bureau entirely, though staff litigation forced a shift toward reducing the workforce to a third of its previous size of about 1,700.
- In a February 12 letter to the GSA, Comptroller Jonathan Gould cited "costs and risks" associated with managing the property, stating that being the CFPB's landlord "does not advance the OCC's mission."
- Located opposite the White House, the downtown office spans more than 300,000 square feet, and the move ends the lease at least six years early, though it remains unclear whether the CFPB will pay rent to the GSA.
- Focusing on "right-sizing" its portfolio, the General Services Administration maintains more than 359 million square feet of government workspace and has been disposing of real estate deemed underutilized in recent years.
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Trump administration ends lease for consumer protection bureau's headquarters, records show
The U.S. Treasury's bank regulation agency has terminated the lease for the Consumer Financial Protection Bureau's Washington headquarters after 14 years and agreed to pass the premises to the federal government's general real estate management agency, records obtained by Reuters show.
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Investing.comTrump administration ends lease for consumer protection bureau’s headquarters, records show
By Douglas Gillison WASHINGTON, April 15 (Reuters) - The U.S. Treasury's bank regulation agency has terminated the lease for the Consumer Financial Protection Bureau's Washington headquarters after 14 years and agreed to pass the premises to the federa...
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R 20%
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