The Collaborative International Dictionary of English v.0.48:

Deplume \De*plume"\, v. t. [imp. & p. p. Deplumed; p. pr. &
   vb. n. Depluming.] [LL. deplumare; L. de- + plumare to
   cover with feathers, pluma feather: cf. deplumis featherless,
   and F. d['e]plumer.]
   1. To strip or pluck off the feather of; to deprive of of
      plumage.
      [1913 Webster]

            On the depluming of the pope every bird had his own
            feather.                              --Fuller.
      [1913 Webster]

   2. To lay bare; to expose.
      [1913 Webster]

            The exposure and depluming of the leading humbugs of
            the age.                              --De Quincey.
      [1913 Webster]

WordNet (r) 3.0 (2006):

deplume
    v 1: strip of honors, possessions, or attributes [syn:
         deplume, displume]
    2: strip of feathers; "pull a chicken"; "pluck the capon" [syn:
       pluck, pull, tear, deplume, deplumate, displume]

Moby Thesaurus II by Grady Ward, 1.0:

85 Moby Thesaurus words for "deplume":
   abase, bleed, bleed white, boot, bounce, break,
   bring into discredit, bring low, bring shame upon, bump, bust, can,
   cashier, cast reproach upon, debase, defrock, degrade, demote,
   denude, depose, deprive, despoil, disbar, discharge, discredit,
   disemploy, disgrace, disgrade, dishonor, dismiss, displace,
   displume, divest, downgrade, drain, drum out, dry, exhaust, expel,
   fire, flay, fleece, furlough, give the ax, give the gate, humble,
   humiliate, impoverish, impute shame to, kick, kick upstairs,
   lay off, let go, let out, lower, make redundant, milk, pension off,
   pick clean, pillory, pluck, put to shame, read out of, reduce,
   reflect discredit upon, release, remove, replace, reproach, retire,
   sack, separate forcibly, shame, shear, skin, strip, strip bare,
   strip of rank, suck dry, superannuate, surplus, suspend, turn off,
   turn out, unfrock