Musk suggests shutting down major financial watchdog in new Trump role
In his fresh govt-efficiency position **Elon Musk** wants to close consumer protection agency. The move comes as part of Trumpʼs plans to re-shape financial oversight system
Elon Musk who recently got a top-spot in Trumpʼs team made his first big-time suggestion: get rid of the Consumer Financial Protection Bureau. The tech-savvy billionaire (who helped Trumpʼs campaign with lots of cash) thinks there are way too many agencies doing the same thing
Delete CFPB. There are too many duplicative regulatory agencies
The CFPB which started back in twenty-ten after the financial mess-up‚ keeps an eye on how banks and money firms treat regular folks; but only Congress can actually shut it down
The watchdog agency is now in a rush to finish its work during Bidenʼs last weeks making new rules to protect consumers before Trump comes in and changes everything up. Republicans have always wanted to either kill-off or limit the agency but couldnt get enough support to do it
The whole thing is part of Muskʼs new job as co-leader of the Department of Government Efficiency with Vivek Ramaswamy – a special group that Trump says will work outside regular govt channels. Banking experts think Trumpʼs team will probably put some serious limits on what the CFPB can do even if they dont completely shut it down
