CFPB Ex-Execution The boss shares concerns at the Parliamentary Forum

Democrats senators led by the Senate Banking Committee member Elizabeth Warren in Massachusetts, held a Forum on Tuesday For air concerns regarding the taking over of the Trump Administration of the Office for Financial Protection of Consumers.

Probably the witness of the star at the event was Lorelei Salas, who, Until two weeks agoHe was the execution director of the CFPB.

Salas was placed on administrative leave-and subsequently resigned-shortly after the interim director CFPB, Russ Vough issued a stop-work order for office employees.

“On Saturday night, a few weeks ago, when we were trained to stop all the work, I knew that my days at CFPB ends,” Salas told Senators on Tuesday. “I was ready to lead the team through a transition, not to be part of the agency’s decimation and to endanger the American families.”

Among the main concerns of the senators are the precipitated decrease in the responses to consumers’ complaints. Approximate 80% fewer complaints In the CFPB database it was approached daily from February 13, when the stop order was issued, compared to the daily average of the last three months of the Biden Administration, according to Warren’s staff.

The database can still be increasing, Salas said. “But there is no one to respond to these complaints. This was the basis of all our work. “

If consumers do not complain about CFPB, Salas added: “They often go on social networks to transmit their dissatisfaction.”

“Well, some of the same people who are behind (payments produced by the CFPB) also controls the social channels,” said Salas.

Elon Musk, the Administration’s Administration and Architect of the Government’s efficiency department, which CFPB infiltrate on February 6He also owns Social Media X, previously known as Twitter. Social network announced last month to team up with Visa at Launch a digital payment tool This year. CFPB is the only federal agency that regulates non -banking financial companies.

Salas and several parliamentarians have reported concerns about the conflict of interest – especially in terms of Musk and Doge operations at CFPB.

Musk can now “root” the confidential data that CFPB has collected on X’s competitors through supervision and examinations, as well as personal data from consumers obtained from complaints, Warren said.

“Who are these individuals who have access to the information of the federal government on the Americans?” Senator Catherine Cortez Masto, DNV, said on Tuesday. “There should be an outrage and revolt about what is happening here.”

Salas, for one, said that anyone who had access to this information before the Doge infiltration “needed to know and went through a long process of substantive checks, conflict checks.”

“I don’t know who has access to what now,” she said.

In it Opening statementWarren revealed that he invited Musk to appear on Tuesday’s forum.

“No surprise: Musk is a show without. He is too afraid to present himself personally and defend his actions, ”Warren said. “It hides behind a stupid tweet. But Elon, if you look at your bunker or your oval office, is not too late. … I saved a place for you and we all have a lot of questions. “

The leader of the minority in the Senate, Chuck Schumer, D-Ny, broke out on Tuesday Republican leaders of the Senate and House bank panels because he did not program a hearing to discuss the Trump administration on the CFPB, mentioning that the Commission’s Presidents introduced a common resolution To cancel the Agency’s rule for reducing credit card delay fees to $ 8.

“CFPB has been removed but not dead,” Warren said on Tuesday. “Lawyers are in court at this time asking judges to apply the law and I am sure they will win.”

Meanwhile, Warren and Senator Andy Kim, D-Nj, sent a letter on Tuesday By asking how many employees allocated in the CFPB Consumer Complaints Databases they work there now, compared to January 20, President Donald Trump was inaugurated.

Also, the senators requested copies of all CFPB contracts regarding the database and how many were in force. In addition, they asked to detail, until March 5, the CFPB plans to maintain the database in operation, as well as certain figures-and, how many complaints have been sent to other regulators and companies supervised by CFPB in recent weeks.

The federal government “is folded in its most basic responsibility to protect the American people,” Salas said on Tuesday.

“Millions of Americans are more likely to be snatched, because CFPB was essentially fired from doing the job he gave him the Congress,” she said. “Get rid of CFPB is an insult to Congress, the rule of law and, most importantly, for you, your family, neighbors and your community.”