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Demonstrators protest against cuts to the U.S. Consumer Financial Protection Bureau by U.S. President Donald Trump and Elon Musks's Department of Government Efficiency in Washington, DC, on March 3, 2025.
"It's clear that the mission of Elon Musk and his DOGE crew has nothing to do with reducing 'waste, fraud, and abuse,' and everything to do with lining their own pockets at the expense of working people," said one advocate.
Several watchdog and advocacy groups are demanding the acting inspector general of the U.S. Consumer Financial Protection Bureau investigate potential conflicts of interest between the Department of Government Efficiency employees who have been involved in mass layoff efforts at the U.S. Consumer Financial Protection Bureau, with a focus on one DOGE aide in particular.
The groups behind the letter, which is dated May 8, include Accountable.US, Public Citizen, Project On Government Oversight, and others.
Twenty five-year-old software engineer Gavin Kliger was detailed to work at the the CFPB starting in March as part of DOGE operations to downsize the agency, according to ProPublica.
The investigative outlet reported that Kliger holds stock in companies "that could benefit from the agency's dismantling" but went on to help oversee mass layoffs at the CFPB, despite objections reportedly raised by ethics attorneys at the agency.
The CFPB, an agency created in the aftermath of the 2008 financial crisis to protect consumers from deceptive or unfair practices in the consumer financial space, bars employees from owning holdings in specific firms—a list that "is tailored to include only businesses that are subject to examination by the bureau." That list is in addition to ethics regulations in place at other financial regulatory agencies and those that apply to executive branch employees more generally.
In April, ProPublica reported that Kliger owns up to $365,000 worth of shares in Apple Inc., Tesla Inc. and two cryptocurrencies. Apple and Tesla are on the list of prohibited holdings. The two cryptocurrencies, Bitcoin and Solana, are not on that list but "are nevertheless barred under agency guidance on investing in cryptocurrency firms," according to ProPublica.
In May, the outlet reported that further review of his public financial report showed that Kliger has even more holdings in companies that are on that prohibited holdings list. "Kliger also disclosed owning as much as $350,000 worth of stock in Google parent Alphabet Inc., Warren Buffett's Berkshire Hathaway and the Chinese e-commerce company Alibaba," the reporting states.
Pointing to court records and government emails, ProPublica reported that Kliger was indeed involved in overseeing layoffs of more than 1,400 employees at the CFPB. A spokesperson for the White House repeatedly told ProPublica that Kliger "did not even manage" the layoffs, "making this entire narrative an outright lie."
Those layoffs are currently tied up in litigation.
Kliger departed the CFPB last week, according to Bloomberg Law.
"Americans expect that those who serve in office are looking out for the public interest, not their own bottom line," said Accountable.US executive director Tony Carrk in a statement on Monday. "Clearly, the Trump administration is more focused on self-enrichment schemes and making it easier for corporate special interests to take advantage of regular Americans than it is on bringing down skyrocketing costs. The CFPB inspector general must investigate this matter immediately."
Mike Pierce, executive director of another group behind the letter, the Student Borrower Protection Center, added that "it's clear that the mission of Elon Musk and his DOGE crew has nothing to do with reducing 'waste, fraud, and abuse,' and everything to do with lining their own pockets at the expense of working people."
In the letter, the groups point to ProPublica's reporting about Kliger's holdings, note that CFPB employees are barred from owning holdings in specific companies, and cite federal law that forbids executive branch employees from participating in matters affecting their own personal financial interests.
The letter also links to research from the Student Borrower Protection Center which explores how Musk could also benefit from a less powerful CFPB.
"We urge you to swiftly investigate these clear conflicts of interest violations of Trump administration officials acting in their own personal financial interest, and we look forward to your prompt response on this matter," concludes the letter.
According to Politico, which first reported on the letter, spokespeople with the Office of Personnel Management, CFPB, and DOGE did not respond to requests for comment.
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Several watchdog and advocacy groups are demanding the acting inspector general of the U.S. Consumer Financial Protection Bureau investigate potential conflicts of interest between the Department of Government Efficiency employees who have been involved in mass layoff efforts at the U.S. Consumer Financial Protection Bureau, with a focus on one DOGE aide in particular.
The groups behind the letter, which is dated May 8, include Accountable.US, Public Citizen, Project On Government Oversight, and others.
Twenty five-year-old software engineer Gavin Kliger was detailed to work at the the CFPB starting in March as part of DOGE operations to downsize the agency, according to ProPublica.
The investigative outlet reported that Kliger holds stock in companies "that could benefit from the agency's dismantling" but went on to help oversee mass layoffs at the CFPB, despite objections reportedly raised by ethics attorneys at the agency.
The CFPB, an agency created in the aftermath of the 2008 financial crisis to protect consumers from deceptive or unfair practices in the consumer financial space, bars employees from owning holdings in specific firms—a list that "is tailored to include only businesses that are subject to examination by the bureau." That list is in addition to ethics regulations in place at other financial regulatory agencies and those that apply to executive branch employees more generally.
In April, ProPublica reported that Kliger owns up to $365,000 worth of shares in Apple Inc., Tesla Inc. and two cryptocurrencies. Apple and Tesla are on the list of prohibited holdings. The two cryptocurrencies, Bitcoin and Solana, are not on that list but "are nevertheless barred under agency guidance on investing in cryptocurrency firms," according to ProPublica.
In May, the outlet reported that further review of his public financial report showed that Kliger has even more holdings in companies that are on that prohibited holdings list. "Kliger also disclosed owning as much as $350,000 worth of stock in Google parent Alphabet Inc., Warren Buffett's Berkshire Hathaway and the Chinese e-commerce company Alibaba," the reporting states.
Pointing to court records and government emails, ProPublica reported that Kliger was indeed involved in overseeing layoffs of more than 1,400 employees at the CFPB. A spokesperson for the White House repeatedly told ProPublica that Kliger "did not even manage" the layoffs, "making this entire narrative an outright lie."
Those layoffs are currently tied up in litigation.
Kliger departed the CFPB last week, according to Bloomberg Law.
"Americans expect that those who serve in office are looking out for the public interest, not their own bottom line," said Accountable.US executive director Tony Carrk in a statement on Monday. "Clearly, the Trump administration is more focused on self-enrichment schemes and making it easier for corporate special interests to take advantage of regular Americans than it is on bringing down skyrocketing costs. The CFPB inspector general must investigate this matter immediately."
Mike Pierce, executive director of another group behind the letter, the Student Borrower Protection Center, added that "it's clear that the mission of Elon Musk and his DOGE crew has nothing to do with reducing 'waste, fraud, and abuse,' and everything to do with lining their own pockets at the expense of working people."
In the letter, the groups point to ProPublica's reporting about Kliger's holdings, note that CFPB employees are barred from owning holdings in specific companies, and cite federal law that forbids executive branch employees from participating in matters affecting their own personal financial interests.
The letter also links to research from the Student Borrower Protection Center which explores how Musk could also benefit from a less powerful CFPB.
"We urge you to swiftly investigate these clear conflicts of interest violations of Trump administration officials acting in their own personal financial interest, and we look forward to your prompt response on this matter," concludes the letter.
According to Politico, which first reported on the letter, spokespeople with the Office of Personnel Management, CFPB, and DOGE did not respond to requests for comment.
Several watchdog and advocacy groups are demanding the acting inspector general of the U.S. Consumer Financial Protection Bureau investigate potential conflicts of interest between the Department of Government Efficiency employees who have been involved in mass layoff efforts at the U.S. Consumer Financial Protection Bureau, with a focus on one DOGE aide in particular.
The groups behind the letter, which is dated May 8, include Accountable.US, Public Citizen, Project On Government Oversight, and others.
Twenty five-year-old software engineer Gavin Kliger was detailed to work at the the CFPB starting in March as part of DOGE operations to downsize the agency, according to ProPublica.
The investigative outlet reported that Kliger holds stock in companies "that could benefit from the agency's dismantling" but went on to help oversee mass layoffs at the CFPB, despite objections reportedly raised by ethics attorneys at the agency.
The CFPB, an agency created in the aftermath of the 2008 financial crisis to protect consumers from deceptive or unfair practices in the consumer financial space, bars employees from owning holdings in specific firms—a list that "is tailored to include only businesses that are subject to examination by the bureau." That list is in addition to ethics regulations in place at other financial regulatory agencies and those that apply to executive branch employees more generally.
In April, ProPublica reported that Kliger owns up to $365,000 worth of shares in Apple Inc., Tesla Inc. and two cryptocurrencies. Apple and Tesla are on the list of prohibited holdings. The two cryptocurrencies, Bitcoin and Solana, are not on that list but "are nevertheless barred under agency guidance on investing in cryptocurrency firms," according to ProPublica.
In May, the outlet reported that further review of his public financial report showed that Kliger has even more holdings in companies that are on that prohibited holdings list. "Kliger also disclosed owning as much as $350,000 worth of stock in Google parent Alphabet Inc., Warren Buffett's Berkshire Hathaway and the Chinese e-commerce company Alibaba," the reporting states.
Pointing to court records and government emails, ProPublica reported that Kliger was indeed involved in overseeing layoffs of more than 1,400 employees at the CFPB. A spokesperson for the White House repeatedly told ProPublica that Kliger "did not even manage" the layoffs, "making this entire narrative an outright lie."
Those layoffs are currently tied up in litigation.
Kliger departed the CFPB last week, according to Bloomberg Law.
"Americans expect that those who serve in office are looking out for the public interest, not their own bottom line," said Accountable.US executive director Tony Carrk in a statement on Monday. "Clearly, the Trump administration is more focused on self-enrichment schemes and making it easier for corporate special interests to take advantage of regular Americans than it is on bringing down skyrocketing costs. The CFPB inspector general must investigate this matter immediately."
Mike Pierce, executive director of another group behind the letter, the Student Borrower Protection Center, added that "it's clear that the mission of Elon Musk and his DOGE crew has nothing to do with reducing 'waste, fraud, and abuse,' and everything to do with lining their own pockets at the expense of working people."
In the letter, the groups point to ProPublica's reporting about Kliger's holdings, note that CFPB employees are barred from owning holdings in specific companies, and cite federal law that forbids executive branch employees from participating in matters affecting their own personal financial interests.
The letter also links to research from the Student Borrower Protection Center which explores how Musk could also benefit from a less powerful CFPB.
"We urge you to swiftly investigate these clear conflicts of interest violations of Trump administration officials acting in their own personal financial interest, and we look forward to your prompt response on this matter," concludes the letter.
According to Politico, which first reported on the letter, spokespeople with the Office of Personnel Management, CFPB, and DOGE did not respond to requests for comment.