CNBC: Sen. Elizabeth Warren: DOGE’s FDIC firings put banking system at risk

In response to a request from Sen. Elizabeth Warren, the Federal Deposit Insurance Corp. will review President Donald Trump’s recent move to lay off more workers at the watchdog agency.

Backed by the Trump administration, Elon Musk and his advisory group, the Department of Government Efficiency, reduced the FDIC staff by around 1,000 employees so far this year through buyout offers and the layoffs of probationary employees, according to reports. The additional firings were part of a larger effort to shrink the federal bureaucracy.

The FDIC is already severely understaffed, which “threatens the stability of the banking system,” Warren, D-Mass., said in a letter sent on Feb. 10 to Inspector General Jennifer Fain and shared exclusively with CNBC. Sens. Raphael Warnock, D-Ga., Chris Van Hollen, D-Md., and Lisa Blunt Rochester, D-Del., also signed the letter.

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