Elizabeth Warren slams Musk for dismantling CFPB, says only Congress has the power to shut down the agency

Odaily Planet Daily News B As the CFPB layoffs and crypto regulation controversy heat up, U.S. Democratic Senator Elizabeth Warren accused Musk and Trump of dismantling the Consumer Financial Protection Bureau (CFPB) for financial control. Warren said in an interview: "The CFPB was created by Congress, and only Congress, not Musk or Trump, has the power to close it. Musk's actions against the CFPB are like bank robbers." The CFPB was previously promoted by Elizabeth Warren in 2007 and suffered another wave of layoffs on February 13. About 100 employees received layoff notices. This move is included in the agenda of the Department of Government Efficiency (DOGE) workforce optimization plan led by Musk. BlockBeats previously reported that on February 8, Russell Watt, director of the U.S. Office of Management and Budget (OMB), took over as acting director of the Consumer Financial Protection Bureau (CFPB), and officials from the Department of Government Efficiency (DOGE) led by Elon Musk took over and deleted the CFPB's X account that night. Musk tweeted "CFPB RIP" on the X platform on Friday afternoon with a tombstone emoji. The homepage of the CFPB official website shows a "404 page does not exist" error message, but the rest of the website is still accessible. Sources said that officials from the Department of Government Efficiency (DOGE) have obtained management rights to the CFPB system, including the content management system, website backend, and personnel active directory. The current atmosphere inside the CFPB is "full of frustration and anger." (Cointelegraph)