May 14, 09:32 AM

Warren's FDIC Deposit Insurance Plan Faces DOGE Reform Pushback; McMahon, Ernst Target Education, $271 Million Benefits

Senator Elizabeth Warren is promoting an expansion of deposit insurance, a plan described by critics as a 'Trojan horse' for increased government control over the banking sector. The proposal would expand the federal role in insuring bank deposits, with opponents warning it could increase taxpayer risk, create more red tape, and threaten Trump-era DOGE reforms. The plan is also linked to the FDIC and has prompted alarm from conservative organizations. Rohit Chopra, the former CFPB Director, is also associated with Warren's efforts to expand deposit insurance and oppose DOGE's attempts to cut federal employees in the agency. Separately, Secretary of Education Linda McMahon and Senator Warren have agreed to meet to discuss U.S. higher education. McMahon is participating in a fireside chat marking the 45th anniversary of the Department of Education, with discussions centered on dismantling the department. Senator Joni Ernst, chair of the DOGE Caucus, is seeking to stop the payment of millions in unemployment benefits to millionaires, noting $271 million paid out during Biden's first two years in office.