Nearly 200 Democratic lawmakers led by Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) are demanding the Trump administration revoke the access by Elon Musk’s Department of Government Efficiency (DOGE) from the Consumer Financial Protection Bureau (CFPB).
In a letter addressed to Treasury Secretary Scott Bessent and Russ Vought, the acting director of the CFPB and the director of the Office of Budget Management, and Secretary of the Treasury Scott Bessent, the lawmakers claimed the DOGE staff consisted of “inexperienced, untrained, and unvetted employees” and claimed Trump and Musk were working against the best interests of the American people.
“Dismantling this law enforcement agency has long been a priority of the big financial institutions it was created to regulate, and this effort to seize control of the CFPB’s inner workings is the clearest example yet that President Trump is willing to reward the billionaires who backed him, even at the expense of ordinary Americans,” said the letter. “We beat back all prior efforts to gut this agency, and we will fight this latest attack in Congress, the courts, and the public. It will fail.”
The letter, which was signed by 46 senators and 143 members of the House of Representatives, also claimed the Trump administration “declared open season for predatory lenders and scam artists working to steal Americans’ money and threaten their financial security.” The lawmakers also insisted the administration will make life “particularly costly for people whose claims of illegal foreclosures, car repossessions, or debanking are currently under investigation by the agency.”
The lawmakers concluded their letter with a threat to combat the administration’s efforts to reform the CFPB.
“Your efforts to dismantle the CFPB are dangerous, and we will fight them at every turn,” the letter stated. “We ask that you remove Mr. Musk’s operatives from the CFPB, restore all internal and external systems and operations, and allow the CFPB to continue to do its job of protecting American consumers.”
Photo by Adam Fagen / Flickr Creative Commons
They are scared at what will be found. If not, let ’em look. They protest too much too be innocent. No big suprise that Maxine Waters is involved, she is the worst of the worst.
AMEN!!!
Follow the money!
100% CFPB was Liz Warrem’s papoose. It needs to go.
sorry 😞 am in the wrong place…I thought I was connecting with intelligent people here…unfortunately ignorance is rampant here…you may be smiling now but trump will wipe those smiles off your faces in short order…you haven’t figured it out yet…just ask the farmers what they think about trump and musk and the Americans they are deporting…they say ignorance is bliss…
I’m with you, Mady ~ Extremely disappointed in those who support giving our country’s most sensitive information to an unelected, white supremacist billionaire foreigner who relishes throwing out Nazi salutes. Unacceptable. So very sorry… Btw, what’s the price of eggs these days?
Y’all need to stop watching lame stream media, you are parroting them. TDS too the max
To clarify, who gave the infected chickens “bird flu”, Trump or Musk?
What this administration is doing is exactly what Americans expected this new administration to do!!!!! Exposing the fraud, corruption and thrift is the only way this country can avoid bankruptcy!
We “ The People” voted for Trump and applaud the progress being made while uncovering unnecessary spending .
Why are the Democrats objecting to reducing the cost of government and cleaning out the fraud and theft?
Exactly! Trump, Elon and the rest of DOGE are doing our Country a huge favor and it’s long overdue.
These people are absolutely TERRIFIED of them discovering huge amounts of waste and fraud. The hitler nazi racist, he’s taking away all women’s rights stuff has died down, they need another attack vector to stop them from exposing the slush funds
what are the Democrats afraid of? president Trump is going what the Americans elected him to do. Elon Musk doesn’t need or deserve the treatment he is getting. I’ve never seen the Democrats so desperate.
Democrats need to get on board or get out of the way. They do not seem to understand that these agencies are not effective in fulfilling their mission. Current and prior CFPB leaders have not acted in the best interest of the American public. The vast majority of Mortgage Loan Originators and Lending institutions are not criminals and are not out to defraud or rip-off the people they serve. If the CFPB leadership had real-world experience in the business of finance, they would re-prioritize and target the “bad eggs” and allow the good ones to freely conduct their business without undue government interference and business-choking regulatory reporting and requirements. Let good acting socially responsible businesses do good work for good well-deserving people. I strongly believe that is what President Trump and the DOGE are after.
Tommy, it’s 1865 again. The Democrats seek to destroy America. We must crush them and rebuild the party into something useful to Western Civilization. As many Democrats are saying, we are at war. Again.
They are crooks protecting their money laundering schemes. They belong in jail.
Once again you have a dictator taking control! There are always ways to investigate issues if they are suspected. CFPB has returned $21 Billion dollars to Americans from banks, credit card companies, auto loan and mortgage lenders who used unscrupulous and illegal ways to scam people. Unlike DOGE, their work is don3e by qualified professionals and is transparent. Want to audit them? Send in auditors – not computer nerds. Since there is no proof any wrongdoing, this shutdown is wholly illegal. It’s bad enough that Trump’s method is “READY – SHOOT – AIM”, this is a case of ‘ FIRST WE’LL HANG THEM AND THEN WE’LL TRY THEM!’
Almost no where else are organizations like the CFPB allowed to operate free of oversight or external audit. Saying “they’ve returned 40 billion to consumers” is meaningless all by itself. If it’s true, prove it. And what did they miss? And how much did they spend to find it? Seems like relevant lines of inquiry to me.
This government agency is just like all the rest. Bloated, inefficient, mismanaged and entrenched in the bureaucracy that is our federal government. That is what DOGE was established to eliminate. These nerds are conducting a forensic audit of each agency to find waste and their methods are working. The people in government elected or not who don’t like it just want the gravy train to continue.
What are they afraid of? The Democrats and RINOs are afraid of the American people knowing what they’ve been up to. Brace yourselves for many stories showing things were even worse than we thought. We need tribunals for everyone in Washington and the Deep State. Trump will save America and Western Civilization from these corrupt, worthless people.
I am sorry for the Dems stress and flailing efforts to stop Trump and DOGE, but darn, this is fun to watch! Elon and his “inexperienced” team probably have a higher combined IQ than half of the Dems in Congress put together. LOVING this!
So very true Fed Up, love it!!
Most of the comments have completely missed the point. The CFPB was created to prevent what happened to you the consumer in the 2008 “the great recession”. Maybe some of you are too young to remember people living in their cars, living in abandoned homes, and real estate agents trying desperately to sell their cars, pickups or whatever they could to get money to pay for groceries or not loose their own house. Banks like Bank of America, Wells Fargo, etc. were just blanket foreclosing on homes with paperwork that was just stamped and the foreclosures should’ve never happened. Why did that whole mess happen. Loans were made to people who would never be able to pay the notes. Stated income loans, interest only loans, real estate agents and mortgage brokers using appraisers that would overlook very obvious attributes of the real estate to give an inflated value, etc. Wall Street greedily bought up bundles of mortgages laden with these outliers that the banks put in, making billions until the economy shifted. Price of oil skyrocketed. The US was on a trajectory for complete financial collapse and Government had to bail out auto manufacturers, BANKS, etc. That’s where the CFPB was necessary……..to protect YOU, the consumer. I knew real estate agents & mortgage brokers who were jumping all over the fraud laden loans for investment property that never should have been given in 2001-2008. Most lost everything including their homes beginning in 2008. An old attorney once told me that Laws and Rules are made to protect people from themselves. Please think about it…………… Go back and read about the collapse that caused the “great recession”. You will understand why a consumer watch dog is necessary to keep banks, private lenders etc. from taking advantage of YOU.
I remember it well. But I also recall the reason the loans were being made in the first place was the government telling lenders to relax their lending standards so “everyone” could buy a home. I saw lots of people take advantage of it and do lots of unethical things. Many people lost a lot. Some deserved it and some didn’t. I agree we need standards and watchdogs but once established, government agencies become big greedy monsters feeding off of taxpayer dollars with bigger budgets and diminishing returns. If you’ve ever worked in or near government you know it’s true. I know it may be painful but I think what’s happening with DOGE needs to happen.
When you say government you mean the republicans and president Bush who cut back all the laws and regulations in place to keep banks and lending institutions from taking advantage of people. Bush said not long after he was elected that everyone should own a home and began deregulation of just about everything he could. Wall Street and banks did the dirty deeds of making a fortune off the backs of ignorant & greedy people who jumped in when the politicians took the guard rails off!
The Clintons not Bush. everything you said.
Exactly Philip!
Thank you Linda, yes many people are way to young to know what was going on during 2007 & 2008,
I wish they would read up on it
I am pretty sure Dodd – Frank was passed in the wake of the mortgage meltdown. CfPB is something extra
I sold real estate thru that and worked 2 other jobs to pay my bills. They bailed out the banks that caused the problems. HUD sold houses for 50 cents on the dollar as they did not work the the sellers, nor would they allow buyers to do small repairs so the houses could finance If the buyer didn’t have the ability to do a full rehab loan, the house sold to Investors who got richer, only a few buyers were able to get the bargain prices because of the lack of common sense. Just sold another HUD 2 months ago and same thing. Instead of HUD escrowing for a new electric service that would meet code I had to find a lender that would let the buyer put their money in and let us close with no electric to the house. 2006 the problem was the lenders were so afraid of someone getting a home equity loan with another lender, they took people in after we closed and gave them a HELOC so between their regular mortgage and HELOC they were at 125% LTV. Once the market depreciated they could not sell so they had to file bankruptcy or walk away. Never saw one case of appraisal fraud or anything like that.
Mady and Virginia you are right on. I think a lot of these people are forgetting when the banks made millions off of the backs of working people by taking their homes in foreclosure without due process and tacking thousands of dollars in attorney fees on to it so they could never catch up and redeem their homes. Everyone saying President Musk (he is running the country isn’t he) has a right to come in and blow up the norms are cackling now because you aren’t affected YET. When they do come after you, you’ll be the ones whining and somehow still blaming it on the Democrats. Why can’t we see ourselves as Americans who care about our country and our citizens that are being targeted by this administration? Isn’t it funny how Musk has gotten rid of the IG’s and the departments that are investigating and regulating him? Billionaires get richer, little guy struggles to put food on their table. Is that truly what the American people want? We need to rein in waste and spending but not by shutting down the departments that protect us.
Amen
Yes, exactly!
If i’m not mistaken, Sen. Elizabeth was critical in setting this up before her presidential run. It’s a slush fund to fine business, who will pay to keep the regulators away, with the money going to the agency. What that agency is funding should be interesting.
Every government program has room to cut because every year they increase the budget of every program! And once a program has been created it NEVER GOES AWAY!! I do believe the Dems are scared of what will be discovered! As far as a private citizen in charge of finding government waste, does anyone remember President Obamas CZARS!! All of a sudden we had a dozen people not confirmed doing tasks for President Obama! I understand the Dems signing a petition but what a surprise this is. There is not any independent thoughts from the Dems, it is NOT allowed!!
All MUST think and vote the same way! President Trump is doing what WE VOTED HIM TO DO!!
Amen!
The “resistance” by Democrats and left-media to the legally authorized DOGE efforts to eliminate waste, fraud, abuse and corruption from the federal government (of which there is plenty), reveal where the real problems reside.
The behavior of Democrat politicians and left-media since President Trump’s landslide electoral victory is defined by flailing, hyperbole, divisive lies & false narratives, hollow threats and impotence. Their actions run contrary to the clear will of the voters and indicates the Democrats/leftwing fear being exposed for their corrupt and criminal conduct.
Exposing and dismantling the Democrats’ money-laundering schemes that have fleeced American taxpayers for decades, is long overdue. God Bless President Trump & Elon Musk.
With credit card interest rates above 30% I’d say the Bureau has dismally failed at consumer finance protection. Afuera!!!
A criminal using other criminals to commit crimes against the American people. Yep, he sure is keeping his word and republicans sure are getting what they voted for. Sad really.
As for the Elon aspect, Elon Musk has passed background checks and held national security clearances for over a decade. He owns multiple publicly traded companies requiring SEC transparency. But they somehow all of a sudden don’t “trust” him with private information?
E. Warren, Maxine Waters, Schumer, AOC & rest of demonrats are SCARED NOW. Let the digging begin.
I lost half of my IRA in 2008 when the Great Recession hit. I don’t suppose any of the pro kill the CFPB supporters were around then or did not or do not care about the personal tragedies that happened, or the criminal commercial bond rating companies that were at the heart of the problem and were never punished. They are still in business today.
I am a long time Republican. I want to have the bloating in government reduced. Things like cost plus contracts. I want more investigation into mismanagement. Congress needs to vote on these things. There are procedures in place to correct out of control bureaucracies, but it doesn’t make news or get you through the primary election so it doesn’t happen. That goes for both parties.
Throwing dirt at each other does not get the job done. Where were the investigators yesterday.
We need at least one good responsible party. Let me know when you find one.
Bipartisan on this one my friend. Remember that?
Slow down everybody.
Let them audit the hell out of every single program, defund those that are frivolous or wasteful, and do it the legal way.
When Congress enacts a law and allocates funds, the executive branch is required to “execute“. That means they can only do what the Congress has voted by law. If we start to ignore the rule of all, we will become like Cuba.
If a defunding is not allowed at the executives discretion, then they should go back to Congress and ask Congress to revoke that fund, or not reenact for the next year. That’s the legal way.
How would you like it if it was a very conservative program that was approved by Congress and a liberal president came in and said they simply were going to shut it down. Put the shoe on the other foot and see how it feels.
I would feel more comfortable if we just followed the law. That’s the reason we have a constitution. Sometimes it’s painful, but it ensures checks and balances that work in both directions.
Common sense anyone?