Federal documents obtained through a Freedom of Information Act request reveal that the Trump administration has terminated the Consumer Financial Protection Bureau’s Washington headquarters lease, ending the agreement six years before its scheduled expiration.
The Office of the Comptroller of the Currency ended the CFPB’s lease in February and transferred the downtown Washington property to the General Services Administration at no charge, according to records released to Reuters.
This latest development adds to ongoing uncertainty surrounding the consumer protection agency, which was established by Congress following the 2008 financial crisis to oversee consumer financial products. President Trump has advocated for eliminating the bureau entirely, and court documents show his administration initially planned to close the agency completely.
After facing legal challenges from agency staff, the administration is now pursuing court permission to slash the CFPB’s workforce from approximately 1,700 employees to just one-third of that number.
The OCC acquired the building in 2010 as part of regulatory reforms implemented after the financial crisis that also led to the CFPB’s creation. The original lease was set to run for 20 years, requiring the consumer bureau to pay roughly $11.4 million annually in rent for 2012, with 2% yearly increases.
According to the lease termination documents, the CFPB first approached the OCC about ending the arrangement shortly after Trump assumed office and made the request again in December.
In correspondence dated February 12, Comptroller of the Currency Jonathan Gould informed the GSA that managing the property involved “costs and risks” and that serving as the CFPB’s landlord “does not advance the OCC’s mission.”
The consumer protection agency has experienced significant staff reductions over the past year, with current employment dropping below 1,200 workers based on recent court filings. Sources familiar with the situation indicate that only a small number of CFPB personnel regularly use the building, as most employees now work remotely.
Trump’s Budget Director Russell Vought, who serves as the CFPB’s acting director, suspended agency operations last year and sent staff home. The building’s signage was removed overnight during this period.
Some agency functions have gradually resumed, including regulatory drafting and limited supervisory activities. Recent job postings show the bureau has advertised a small number of attorney positions.
The headquarters building sits across from the White House complex and features modern 1974 architecture with floor-to-ceiling windows. The facility encompasses more than 300,000 square feet, includes over 200 parking spaces, and has an accessible rooftop in a prime downtown location.
The Trump administration characterizes the agency as a politicized obstacle to free enterprise, while supporters argue that efforts to dismantle it will ultimately harm consumers.
Neither the OCC nor GSA representatives provided immediate responses to requests for comment. A CFPB spokesperson confirmed the agency’s headquarters were located at the property in question but declined to answer detailed inquiries.
