Trump 2nd term live updates: Google Maps renames Gulf of Mexico to ‘Gulf of America’

After the Consumer Financial Protection Bureau was effectively shuttered Monday morning, Trump said it was “the right thing” to do and laid into Sen. Elizabeth Warren, D-Mass., who originally proposed plans for the agency in the wake of the 2008 financial crisis.

When asked by a reporter in the Oval Office for his response to Democrats, including Warren, who said freezing the CFPB is giving big banks and corporations the greenlight to scam families, Trump replied, “Pocahontas,” turning to an old disparaging nickname for Warren.

“You know, that was set up to destroy people. She used that as her little personal agency to go around and destroy people,” he continued.

Trump said the agency “was a very important thing to get rid of” and “also a waste.”

“If you looked at when she really ran it, wow, that was a vicious group of people. They really destroyed a lot of people,” Trump claimed, despite the CFPB’s mission to prevent U.S. consumers from falling victim to fraud and scams.

Asked whether his goal was to completely get rid of the CFPB, Trump said, “I would say yeah, because we’re trying to get rid of waste, fraud and abuse.”

-ABC News’ Sarah Kolinovsky