Dozens of House Democrats are alarmed by the Trump administration’s next target in its cost-cutting quest: the Consumer Financial Protection Bureau. 

In a Friday letter led by Rep. Maxine Waters, California Democrat, 81 lawmakers demanded that Treasury Secretary Scott Bessent lift his order halting work at the agency. They warned the stoppage could the first step in dismantling the CFPB. 

“We are deeply alarmed and troubled that you appear to be launching the Trump administration’s plan to contravene the will of Congress and unlawfully delete this popular consumer watchdog that enjoys the broad bipartisan support of four out of five Americans,” the lawmakers wrote. 

Mr. Bessent, who temporarily became acting director of the CFPB after Rohit Chopra was fired by President Trump last weekend, halted work at the agency except for action he approved or that was required by law. His directive has effectively kneecapped the agency’s enforcement abilities. 

Mr. Bessent has made way for Russell Vought, the new Office of Management and Budget director who was reportedly named acting chief of the CFPB Friday night. 

The lawmakers wrote that the order amounted to “letting bad actors off the hook.” Their understanding of his order, they continued, also means that all CFPB rules have yet to take effect, which they warned “would delay billions of dollars in savings and credit opportunities for consumers, if not rob them entirely.” 

The CFPB’s budget for fiscal 2025 was $823 million, and since its inception over a decade ago, it has returned over $20 billion to consumers.  

“We urge you to immediately rescind what appears to be an illegal stop work order and allow the public servants at the CFPB to get back to work for the American people as required by law,” the lawmakers wrote. 

Their letter came as Elon Musk and his Department of Government Efficiency officially set their sights on the agency.  Mr. Musk posted “CFPB RIP” on Friday as staff on DOGE gained access to the agency’s system, deleting its social media accounts and tanking its website.
 
The CFPB agency has been in Republican and tech executive crosshairs for some time, with Mr. Musk and others, like Meta founder Mark Zuckerberg, taking issue with the agency after new regulations under the Biden administration aimed to crack down on the tech industry. 

“There are too many duplicative regulatory agencies,” noted Mr. Musk, who advised to “delete CFPB.”

Another tech entrepreneur, Marc Andreeson, blasted the agency for “terrorizing anybody who tries to do anything new in financial services.”

DOGE’s crusade includes dismantling the U.S. Agency for International Development, an action put on pause by a judge on Friday.

Mr. Musk has acted as the arbiter of the president’s push to root out waste, fraud and abuse while downsizing and reshaping the government. 

Mr. Trump, who has often opined that the government is corrupt, said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba that he’s behind Mr. Musk’s effort.

“I’ll tell him to go here, go there,” the president said. “He does it.”

• Alex Miller can be reached at amiller@washingtontimes.com.