Senate Banking, Housing and Urban Affairs Committee Ranking Member Elizabeth Warren and Senator Adam Schiff sent a letter to Consumer Financial Protection Bureau (CFPB) Acting Director Russ Vought and Treasury Secretary Scott Bessent calling for the immediate removal of Elon Musk’s “Department of Government Efficiency” (DOGE) staff embedded at the CFPB, alongside a request to restore internal and external systems and operations. The senators argued that Musk’s role with DOGE could undermine CFPB oversight in areas where his companies have interests, citing X’s planned digital wallet and payments platform, including a reported partnership with Visa, at a time when the CFPB has been focusing on digital wallets and payment systems. The letter also raised concerns that DOGE staff have accessed sensitive CFPB data and systems, potentially creating an unfair advantage in the digital payments market, and pointed to potential benefits to Tesla given the CFPB’s supervision of auto lending. Warren and Schiff also sought transparency on the extent of Musk’s involvement, clarification on compliance with federal conflict-of-interest rules, and information on safeguards to prevent personal financial interests from influencing CFPB operations.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-02-19
U.S. Senate Banking Committee Ranking Member Warren and Schiff demand CFPB remove Musk-linked DOGE staff over conflicts of interest
Senators Elizabeth Warren and Adam Schiff urged removing Elon Musk's "Department of Government Efficiency" staff from the CFPB, citing potential conflicts of interest. They expressed concerns over Musk's influence on CFPB oversight, particularly regarding digital wallets and payment systems, and potential access to sensitive data. The senators also requested transparency on Musk's involvement and compliance with federal conflict-of-interest rules.