Rep. Maxine Waters leads a protest against Elon Musk's actions to freeze CFPB funding and halt operations, calling it a 'constitutional crisis'.
Rep. Maxine Waters , D-Calif., speaks during a protest in support of the Consumer Financial Protection Bureau ( CFPB ), Monday, Feb. 10, 2025, at the CFPB headquarters in Washington. (AP Photo/Jacquelyn Martin) Congresswoman Waters, along with other prominent Democrats, rallied in Washington D.C.
to defend the Consumer Financial Protection Bureau (CFPB) from a perceived power grab by Elon Musk, who was appointed by former President Trump to lead a newly established Department of Government Efficiency (DOGE). The demonstration, live-streamed on the House Financial Services Committee's YouTube channel, saw participants demanding Musk's presence, criticizing his actions to freeze funding, halt ongoing cases, and review the agency's computer systems. Waters, in a powerful speech, urged the crowd to pay close attention to Musk's actions, warning them of a potential constitutional crisis. She emphasized the CFPB's crucial role in protecting consumers from financial exploitation, highlighting its successes in combating fraud and recovering billions of dollars for victims. Joining Waters, Massachusetts Congresswoman Ayanna Pressley echoed the sentiment, stating that the CFPB has been a lifeline for struggling families facing rising costs and predatory financial practices. Senator Elizabeth Warren, the architect behind the CFPB's establishment, criticized Trump and Musk's attempts to weaken the agency's regulatory power, emphasizing that allowing Wall Street to operate unchecked would leave consumers vulnerable to financial harm. The rally culminated with a call to action, urging Congressional Democrats to withhold votes for government funding until this constitutional crisis was resolved.
CFPB Consumer Protection Elon Musk Maxine Waters Protest Government Funding Constitutional Crisis Financial Regulation
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