
Senator Elizabeth Warren has pledged to combat President Donald Trump's efforts to shut down the Consumer Financial Protection Bureau (CFPB), an agency she established. Warren described the administration's actions as 'another scam' and rallied outside a closed CFPB building to protest. In response to concerns about the CFPB's operational status, Warren questioned who would oversee consumer compliance exams for major banks like JPMorgan and Wells Fargo. Federal Reserve Chair Jerome Powell countered Warren's claims, asserting that no other federal regulator is responsible for those exams. The ongoing conflict highlights the political tensions surrounding the CFPB, with Warren sounding the alarm about the potential risks to consumers and the agency's future.
Jerome Powell tears apart Elizabeth Warren’s fearmongering narrative about the CFPB. https://t.co/37tU7ML0E1
🔊 'She is sounding the alarm … trying to say that this is an attempt to kill the agency for political and financial gain.' @douglasgillison on Senator Elizabeth Warren's protest against the Consumer Financial Protection Bureau shutting its operations https://t.co/S2LjtQiEtI https://t.co/lTeCCfdhUP
Senator Elizabeth #Warren: "If the CFPB is not on the job right now, then who is administering JPMorgan or Wells Fargo consumer compliance exams?" Fed Chair Jerome #Powell: "I can say no other federal regulator." https://t.co/Vc2XKMeiQM

