U.S. Senator Elizabeth Warren Defends Consumer Financial Protection Bureau Amid Legal Clash with Trump Administration

Boston, MA - Senator Elizabeth Warren (D-MA) has asserted that the Consumer Financial Protection Bureau (CFPB) cannot be dissolved without congressional approval, potentially setting up a legal confrontation with the Trump administration.

"According to the law, only Congress has the authority to shutter the CFPB. Not Donald Trump, not Elon Musk," Warren stated in an interview with Yahoo Finance. "We must resort to legal action if Trump and Musk flout the law."

Along with 200 other lawmakers, Warren sent a letter to acting CFPB director Russ Vought and Treasury Secretary Scott Bessent, demanding the removal of Musk's Department of Government Efficiency (DOGE) operatives from the CFPB and the restoration of its operations.

"The law is clear on this matter, and the courts will uphold it if Musk and Trump violate it," Warren reiterated to Yahoo Finance. "That's how our system operates."

Warren has vehemently opposed attempts to eliminate the CFPB, which she played a pivotal role in establishing following the 2008-2009 financial crisis. The CFPB oversees consumer finance at large financial institutions, ranging from mortgages and credit cards to checking accounts and payday loans.

"The CFPB is the watchdog in the industry, and Musk's actions have essentially told these watchdogs to cease their duties. This does not enhance public safety," Warren emphasized.

Last weekend, the Trump administration ordered a cessation of CFPB operations and prohibited employees from attending the agency's Washington, D.C., headquarters this week. Prior to this move, Musk had signaled impending changes, tweeting "CFPB RIP" shortly after DOGE personnel assumed control at the agency.

Many Republicans have一直反对CFPB自2010年多德-弗兰克金融改革的一部分创建以来，并常常呼吁关闭该CFPB，理由是华盛顿有太多多余的监管机构。

据《华尔街日报》周三报道，据报道，特朗普政府正在讨论不征求国会意见，合併其他银行监管机构的计划。讨论内容包括可能将联邦存款保险公司并入财政部，并将其与货币审计长办公室合併。

沃伦说，议员们创建了这些机构，因此只有国会才能结束它们。她还批评将FDIC与其他机构合并的想法，因为FDIC作为存款保险机构发挥着至关重要的作用。FDIC目前为数千家银行的客户存款提供最高25万美元/账户的保险。

她说：“但是，我们是否可以停下来，说一下，什么是真正糟糕的主意？” “我们真的认为如果我们取消FDIC保险，我们的金融体系将会运作得更好吗？当他们将FDIC保险贴纸从全美银行的入口处刮掉的那天，你真的想在那里吗？我不这么认为。”沃伦补充道。

当然，如果FDIC与OCC合併，还不清楚FDIC保险后盾会发生什么。该期刊报道称，一项提案将让FDIC负责存款保险，并将其负责监管银行（和潜在关闭倒闭贷款机构）的工作移交给OCC。

沃伦仍然担忧，如果CFPB不再检查该国最大的银行如何对待消费者，会发生什么。周二，她问美联储主席杰罗姆·鲍威尔在参议院银行委员会，如果CFPB不存在，谁会“做这项工作”。鲍威尔回答说，“没有其他监管机构。”

沃伦与特朗普总统达成一致的一个领域是她希望降低利率。在周二的参议院银行委员会听证会上，这位参议员呼吁鲍威尔在美联储3月份的下一次政策会议上降低利率。

特朗普周三在社交媒体帖子中也呼吁降低利率，尽管他没有具体说明他指的是美联储的短期利率还是长期借贷成本。 “利率应该降低，这将与即将到来的关税齐头并进！！！让我们摇滚吧，美国！！！”他发布了。

沃伦告诉雅虎财经，她一直敦促美联储长期降低利率，因为她希望看到家庭能够负担得起抵押贷款并偿还信用卡，而无需高额贷款。

鲍威尔反而一直在敦促耐心，因为美联储评估了持续的通货膨胀道路以及一些经济学家认为将推动通货膨胀走高的特朗普政府的新贸易政策。

“埃隆·马斯克和唐纳德·特朗普目前制造了很多经济动荡，我理解美联储对此如何犹豫不决，”沃伦说。 “我仍然希望看到利率下降。我认为这是正确的做法。但我们还需要停止这种经济混乱。这无助于美国家庭。”