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  • Watchdogs reviewing DOGE actions at CFPB, Democratic lawmaker says

Watchdogs reviewing DOGE actions at CFPB, Democratic lawmaker says

Bull Bear Daily May 5, 2025
2025-05-05T193231Z_3_LYNXMPEL440QQ_RTROPTP_4_USA-CONGRESS-CFPB-1

(Reuters) – Two watchdog agencies have agreed to review efforts by Elon Musk’s Department of Government Efficiency to dismantle the U.S. Consumer Financial Protection Bureau, according to letters released Monday by a high-ranking Democratic member of Congress.

The Government Accountability Office, which is the investigative arm of Congress, and the CFPB’s Office of Inspector General, have agreed to review aspects of DOGE’s activities at the CFPB, the letters released by Maxine Waters, the top Democrat on the House Financial Services Committee, said.

Waters had called for the probes in February.

White House and CFPB spokespeople did not immediately respond to requests for comment. CNN reported last month that GAO had agreed to investigate.

Federal courts have frozen President Donald Trump’s efforts to eliminate the CFPB or shrink the CFPB workforce by 90 percent while an employee union and consumer advocates battle against this in court.

Trump and Musk have called for the CFPB’s elimination, accusing it of politicized enforcement. The administration has, however, pledged that the agency will continue to exist in some form.

Since firing its director in February, the administration has repeatedly attempted mass firings, granted DOGE members access to sensitive consumer and industry data and brought much of the agency’s work to a standstill, drawing accusations of conflicts of interest and illegality from Democrats and administration critics.

In an April 29 letter, the Inspector General’s office said it would review CFPB information security matters as other questions raised by Waters were subject to litigation or already under review by GAO.

(Reporting by Douglas Gillison; Editing by Chizu Nomiyama)

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