Senator Elizabeth Warren has expressed her disapproval following the announcement that nearly all staff members at the Consumer Financial Protection Bureau (CFPB) have been sent layoff notices. President Trump's Acting Director of the CFPB, Russell Vought, reportedly issued these notices as part of a workforce reduction.
Senator Warren, the Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, criticized the move, stating, "President Trump just gutted almost all CFPB staff, so the agency can’t do its job of helping Americans who get scammed by big banks and giant corporations. Dismantling the CFPB in the face of a court order blocking an illegal shutdown is yet another assault on consumers and our democracy by this lawless Administration, and we will fight back with everything we've got."
The action comes amid concerns about the future operations of the CFPB and its ability to protect consumers in the financial sector.