Lawmakers Elon Musk of Undermining CFPB to Gain Edge for X Payments

Benzinga

Senators Elizabeth Warren and Adam Schiff urged removing Department of Government Efficiency staffers linked to Elon Musk from the Consumer Financial Protection Bureau. They argued that the staffers' presence compromises the agency's regulatory role over X’s upcoming payments venture. The lawmakers accused Musk of neutralizing the CFPB and potentially gaining access to confidential corporate data that could provide X with an unfair competitive edge. DOGE staffers recently shut down CFPB headquarters, halting operations.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Senators Elizabeth Warren and Adam Schiff urge the removal of Department of Government

00:06Efficiency staffers linked to Elon Musk from the Consumer Financial Protection Bureau.

00:11They argue that the staffers' presence compromises the agency's regulatory role

00:16over X's upcoming payments venture. The lawmakers accuse Musk of neutralizing the CFPB

00:21and potentially gaining access to confidential corporate data

00:24that could provide X with an unfair competitive edge.

00:28Doge staffers recently shut down CFPB headquarters, halting operations.

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