Technology
Senate votes to strip the CFPB of its power to regulate X
The Senate voted on Wednesday to strip a key financial regulator of its ability to monitor digital platforms like X, as the social media company’s owner, Elon Musk, has become the public face of the government office seeking to shrink the agency’s workforce.
With the CFPB’s digital authority now in danger, two Democrats are calling on the Office of Government Ethics (OGE) to probe Musk’s compliance with federal ethics laws, given his financial interests and work with the Department of Government Efficiency (DOGE). In a letter shared exclusively with The Verge, Sens. Elizabeth Warren (D-MA) and Adam Schiff (D-CA) are asking the OGE to preserve communications about Musk and DOGE’s compliance. They ask whether Musk has recused himself from DOGE’s work at the CFPB or if he’s been issued ethics waivers to address conflicts of interest that might be raised by his ownership of X and leadership at Tesla, which offers financing to auto customers.
The White House has previously offered vague assurances that Musk would not work on matters that present a conflict of interest
The CFPB rule that Republicans are trying to get rid of would let the agency keep tabs on digital services like X’s planned venture into payments for fraud and privacy issues. That raised concerns that Musk could be serving his own financial interests in kneecapping a regulator that would have direct oversight of at least one of his businesses. The White House has previously offered vague assurances that Musk would not work on matters that present a conflict of interest, but he hasn’t done much to distance himself publicly from DOGE’s work at the CFPB. He posted “CFPB RIP” on his X account in the wake of an initial stop-work order issued to the agency.
“Notably, the CFPB has taken steps in recent years to protect consumers from fraud on digital payment apps and collects proprietary information from the digital payment industry,” Warren and Schiff write in their letter to the OGE. “Mr. Musk is also the founder and CEO of Tesla, which offers customers the option of working with Tesla to finance their auto purchases. The CFPB plays a critical role in supervising the auto lending industry and protecting consumers from corporate malfeasance and scams. Therefore, actions by Mr. Musk and DOGE at the CFPB have the potential to directly benefit X, Visa, and Tesla—and by extension, Mr. Musk.”
Musk has been dubbed a “special government employee” by the Trump administration, which the lawmakers point out makes him subject to conflict of interest laws. “Therefore, if Mr. Musk has taken actions in his federal role that will benefit his financial interests without receiving appropriate waivers and approvals, he may have violated the criminal conflict of interest statute.”
Ahead of the Senate vote on Wednesday, Sen. Jack Reed (D-RI) framed the choice to his colleagues succinctly: “A vote in favor of this resolution is a vote to strip federal oversight of Elon Musk’s payments company.”
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The LG CLOiD robot and the LG OLED evo AI Wallpaper TV are displayed onstage during an LG Electronics news conference at CES 2026, an annual consumer electronics trade show, in Las Vegas, Jan. 5, 2026. (REUTERS/Steve Marcus)
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Welcome to Fox News’ Artificial Intelligence newsletter with the latest AI technology advancements.
IN TODAY’S NEWSLETTER:
– CES 2026 showstoppers: 10 gadgets you have to see
– Construction giant unveils AI to help prevent job site accidents: ‘It’s essentially a personal assistant’
– Fox News gets exclusive look at company helping businesses nationwide harness AI-powered robots to boost efficiency and fill labor gaps
CES 2026 put health tech front and center, with companies showcasing smarter ways to support prevention, mobility and long-term wellness. (CES)
FUTURE IS NOW: Every January, the Consumer Electronics Show, better known as CES, takes over Las Vegas. It’s where tech companies show off what they’re building next, from products that are almost ready to buy to ideas that feel pulled from the future.
SAFER SITES: Construction equipment giant Caterpillar has unveiled a new artificial intelligence (AI) tool designed to improve job site safety and boost efficiency as the industry grapples with labor shortages.
FUTURE OF WELLNESS: The Consumer Electronics Show, better known as CES, is the world’s largest consumer technology event, and it’s underway in Las Vegas. It takes over the city every January for four days and draws global attention from tech companies, startups, researchers, investors and journalists, of course.
FUTURE OF WORK: As artificial intelligence is rapidly evolving, Fox News got an exclusive look at a company helping businesses nationwide harness AI-powered robots to boost efficiency and fill labor gaps. RobotLAB, with 36 locations across the country and headquartered in Texas, houses more than 50 different types of robots, from cleaning and customer service bots to security bots.
The LG CLOiD robot and the LG OLED evo AI Wallpaper TV are displayed onstage during an LG Electronics news conference at CES 2026 in Las Vegas, Jan. 5, 2026. (REUTERS/Steve Marcus)
COMPUTE CRUNCH: The price tag for competing in the artificial intelligence race is rapidly climbing, fueling demand for advanced computing power and the high-end chips that are needed to support it. Advanced Micro Devices (AMD) CEO Lisa Su said demand for AI computing is accelerating as industries rush to expand their capabilities.
AI GONE WRONG: A California teenager used a chatbot over several months for drug-use guidance on ChatGPT, his mother said. Sam Nelson, 18, was preparing for college when he asked an AI chatbot how many grams of kratom, a plant-based painkiller commonly sold at smoke shops and gas stations across the country, he would need to get a strong high, his mother, Leila Turner-Scott, told SFGate, according to the New York Post.
DR CHAT: ‘The Big Money Show’ panelists weigh in on a report on people turning to ChatGPT for medical and healthcare questions.
‘FUNDAMENTALLY DEFLATIONARY’: OpenAI Board Chair Bret Taylor discusses artificial intelligence’s potential to change traditional work and its increasing use in healthcare on ‘Varney & Co.’
MIND TRAP ALERT: Artificial intelligence chatbots are quickly becoming part of our daily lives. Many of us turn to them for ideas, advice or conversation. For most, that interaction feels harmless. However, mental health experts now warn that for a small group of vulnerable people, long and emotionally charged conversations with AI may worsen delusions or psychotic symptoms.
A California teenager sought drug-use guidance from a ChatGPT chatbot over several months while preparing for college, his mother told SFGate, according to the New York Post. (Kurt “CyberGuy” Knutsson)
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These AI projects include Prometheus, the first of several supercluster computing systems, which is expected to come online in New Albany, Ohio, sometime this year. Meta is funding the construction of new nuclear reactors as part of the agreements, the first of which may come online “as early as 2030.” These announcements are part of Meta’s ongoing goal to support its future AI operations with nuclear energy, having previously signed a deal with Constellation to revive an aging nuclear power plant last year.
Financial information for the agreements hasn’t been released, but Meta says that it will “pay the full costs for energy used by our data centers so consumers don’t bear these expenses.”
“Our agreements with Vistra, TerraPower, Oklo, and Constellation make Meta one of the most significant corporate purchasers of nuclear energy in American history,” Meta’s chief global affairs officer, Joel Kaplan, said in the announcement. “State-of-the-art data centers and AI infrastructure are essential to securing America’s position as a global leader in AI.”
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