The U.S. Senate Committee on Banking, Housing and Urban Affairs’ minority leadership released a letter led by Ranking Member Elizabeth Warren and House Financial Services Committee Ranking Member Maxine Waters, signed by nearly 200 lawmakers including the full Senate Democratic caucus, urging Acting Consumer Financial Protection Bureau (CFPB) Director Russ Vought and Treasury Secretary Scott Bessent to remove Elon Musk’s operatives from the CFPB, restore internal and external systems and operations, and allow the agency to continue its consumer protection work. The lawmakers’ letter cites what it describes as an incursion by members of Musk’s “Department of Government Efficiency” (DOGE) into CFPB headquarters and access to sensitive CFPB information, and it criticizes Mr. Vought’s subsequent direction to stop all CFPB work, which the signatories characterize as illegal. The release reiterates the CFPB’s post-2008 creation under the Dodd-Frank Act and notes that the agency has returned over USD 21 billion to consumers. The signatories say they will oppose efforts to dismantle the CFPB through congressional action, litigation, and public advocacy.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-02-12
U.S. Senate Committee on Banking, Housing and Urban Affairs Democrats urge CFPB and Treasury to remove Musk-linked personnel and restore CFPB operations
Nearly 200 lawmakers, led by Senate Banking Committee's Elizabeth Warren and House Financial Services' Maxine Waters, urged removing Elon Musk's operatives from the CFPB. The letter criticizes Acting Director Russ Vought for halting operations, deemed illegal, and emphasizes the agency's consumer protection role since its creation under the Dodd-Frank Act. Lawmakers pledged to oppose efforts to dismantle the CFPB.