The Dictatorship
Trump nominates Stuart Levenbach, with no financial experience, to lead the CFPB
NEW YORK (AP) — President Trump nominated Stuart Levenbach as the next director of the Consumer Financial Protection Bureau on Wednesday, using a legal maneuver to keep his budget director Russell Vought as acting director of the bureau while the Trump administration continues on its plan to shut down the consumer financial protection agency.
Levenbach is currently an associate director inside the Office of Management and Budget, handling issues related to natural resources, energy, science and water issues. Levenbach’s resume shows significant experience dealing with science and natural resources issues, acting as chief of staff of the National Oceanic and Atmospheric Administration during Trump’s first term.
Levenbach’s nomination is not meant to go through to confirmation, an administration official said, speaking on condition of anonymity to discuss personnel matters. Under the Vacancies Act, Vought can only act as acting director for 210 days, but now that Trump has nominated someone to the position, that clock has been suspended until the Senate approves or denies Levenbach’s confirmation as director. Vought is Levenbach’s boss.
The CFPB has been nonfunctional much of the year. Many of its employees have been ordered not to work, and the only major work the bureau is doing is unwinding the regulations and rules it put into place during Trump’s first term and during the Biden administration.
While in the acting director role, Vought has signaled that he wishes to dismantle, or vastly diminish, the bureau.
The latest blow to the bureau’s future came earlier this month, when the White House said it does not plan to withdraw any funds from the Federal Reserve, which is where the bureau gets its funding, to fund the bureau past Dec. 31.
The White House and the Justice Department are using a legal interpretation of the law that created the bureau, the Dodd-Frank Act, that the Fed must be profitable in order to fund the CFPB’s operations. Since roughly 2022, the Fed has been cash-flow negative since it owns bonds from the COVID-19 pandemic that pay very low interest but must pay out higher interest to the banks that deposit reserves with it. This means, on paper, the Fed is not earning a profit at the moment and therefore has no money to allot to the CFPB.
Several judges have rejected this argument when it was brought up by companies, but it’s never been the position of the government until this year that the CFPB requires the Fed to be profitable to provided the CFPB with operating funds.
“Donald Trump’s sending the Senate a new nominee to lead the CFPB looks like nothing more than a front for Russ Vought to stay on as Acting Director indefinitely as he tries to illegally close down the agency,” said Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, in a statement.
The bureau was created after the 2008 financial crisis as part of the Dodd-Frank Act, a law passed to overhaul the financial system and require banks to hold more capital to avoid another financial crisis. The CFPB was created to be a independent advocate for consumers to help them avoid bad actors in the financial system.
As awards season progresses, celebrities continue to speak out against the Trump administration’s immigration crackdown — especially in Minneapolis. Though some stars have opted for a slight nod of resistance with pins that say “ICE out,” others have been more vocal in their stances.
Upon accepting the Grammy Award for Best Música Urbana Album on Sunday night, Bad Bunny got straight to the point.
“Before I say thanks to God, I’m going to say ICE out,” the Puerto Rican performer said as soon as he approached the podium with award in hand.
After a standing ovation and cheers from the crowd, he continued.
“We’re not savage, we’re not animals, we’re not aliens. We are humans and we are Americans.”
This is not the first time the artist has spoken out against the Trump administration’s rhetoric against immigrants in the United States. Last year, he announced he would no longer tour in the U.S., which drew criticism from some right-wing commentators.
Despite that pushback, Bad Bunny scored the headlining spot at this year’s Super Bowl and said he decided to “do just one date in the United States.”
The album Bad Bunny accepted the award for, “Debí Tirar Más Fotos,” also won Album of the Year, becoming the first primarily Spanish-language album to win the distinction in the ceremony’s 68-year history.
Kathleen Creedon is a platforms editor for MS NOW. She previously worked as a web producer for Vanity Fair.
Despite a brutal critical reception“Melania,” the documentary about the first lady released on January 30, outperformed expectations in its opening weekend.
“Melania” earned more than $7 million at the domestic U.S. box office, the highest opening for a non-concert documentary in decades. Most recently, the best-performing film in the same genre was Stephen Gray and Chris Radtke’s “After Death,” which opened at around $5 million domestically in 2023. With an opening box office of almost $24 million, Michael Moore’s 2004 film “Fahrenheit 9/11” remains the highest-grossing political documentary.
Critics, however, have been less kind to “Melania.” The documentary has received an aggregate rating of 10% among professional critic reviews on Rotten Tomatoes (which is owned by Versant, MS NOW’s parent company), and negative reviews from major news outlets abound. Writing for MS NOW, media critic Jen Cheney said the film is “so devoid of substance that it feels wrong to call it a documentary” and suggested “This thing is basically ‘Let Them Eat Cake: The Movie,’” invoking Marie Antoinette, the French queen beheaded during the revolution.
Still, the film about the model-turned-political figure found its audience. Media analytics company Comscore reported that roughly 72% of Melania’s audience during opening weekend were women, and 72% were over the age of 55. The majority of the movie-goers were also white.
Directed by Brett Ratner in his first film since he faced accusations of sexual abuse (allegations he has denied), “Melania” outperformed expectations out of the gate but has far to go before it becomes profitable: Amazon’s MGM Studios paid $40 million to license the film and another $35 million to promote it.
“We’re very encouraged by the strong start and positive audience response, with early box office for ‘Melania’ exceeding our expectation,” said Kevin Wilson, Amazon MGM Studios’ head of domestic theatrical distribution.
Erum Salam is a breaking news reporter and producer for MS NOW. She previously was a breaking news reporter for The Guardian.
The Dictatorship
British prime minister says Prince Andrew should testify to Congress over Epstein ties
British Prime Minister Keir Starmer called on Andrew Mountbatten-Windsor, the disgraced British royal formerly known as Prince Andrew, to testify before the U.S. Congress over his ties to the late convicted sex offender Jeffrey Epstein.
“Firstly, I have always approached this question with the victims of Epstein in mind. Epstein’s victims have to be the first priority. As for whether there should be an apology, that’s a matter for Andrew,” Starmer told press on Saturday during an official visit to Tokyo, Japan.
“But yes, in terms of testifying, I have always said anybody who has got information should be prepared to share that information in whatever form they are asked to do that. You can’t be victim-centered if you’re not prepared to do that.”
The statement comes after the Justice Department on Friday released more than 3 million pages of documents related to its investigation into Epstein as part of its mandate to fulfill the requirements of the Epstein Files Transparency Act.
Among the documents are photographs that show a barefoot Mountbatten-Windsor kneeling over and touching the stomach and waist of an unidentified female figure whose face has been redacted.
Also among the newly released documents, the Guardian identified email exchanges between him and Epstein dated 2010. In them, Epstein tells Mountbatten-Windsor, “I have a friend who I think you might enjoy having dinner with” and refers to a 26-year-old Russian woman. Andrew replied that he would be “delighted to see her” and told Epstein to give her his contact information.
Mountbatten-Windsor has been unable to distance himself from the scandal over his friendship with Epstein, the American financier who ran a sex-trafficking ring.
Amid ongoing revelations about his history with Epstein, Mountbatten-Windsor was stripped of his royal titles last year by his older brother, King Charles III. Andrew was also evicted from his home at Royal Lodge, a 30-room mansion located on the grounds of Windsor Castle.
Virginia Giuffreone of Epstein’s victims, sued Mountbatten-Windsor in 2021, claiming she was forced to have sex with him. The case was settled for an undisclosed amount in 2022with no admission of wrongdoing. Giuffre died by suicide last April. Mountbatten-Windsor has repeatedly denied the allegations against him. In a now-famous BBC Newsnight interviewhe claimed he was at a PizzaExpress in Woking with his daughter, Princess Beatrice, at the time of the alleged assault.
MS NOW is reviewing the documents released by the Justice Department in collaboration with journalists from NBC, AP, CNBC and CBS. Journalists from each newsroom worked together to examine the documents and share information about what is in them. Each outlet is responsible for its own independent news coverage of the documents.
Erum Salam is a breaking news reporter and producer for MS NOW. She previously was a breaking news reporter for The Guardian.
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