Summary

Elon Musk wants to “delete” the Consumer Financial Protection Bureau (CFPB), which has returned nearly $20 billion to Americans since its creation after the 2008 financial crisis.

Critics, including Public Citizen, argue Musk is driven by conflicts of interest, as the CFPB recently finalized a rule to supervise large tech companies offering digital payment services, a business Musk appears poised to enter.

“In short, Musk is calling for elimination of the consumer protection regulator over a business line he seems poised to enter… This is systemic corruption at a grand and intolerable scale,” one advocate said.

The CFPB has long faced opposition from corporations and conservatives but is praised for combating financial abuses and protecting consumers.

  • @[email protected]
    link
    fedilink
    3111 days ago

    USA could’ve organized to stop thousands of different things all at once, but they decided to let it happen. That was on 5-NOV-2024.

    • Ech
      link
      fedilink
      English
      2911 days ago

      Some people tried. Worth keeping them in mind when condemning the whole country as complicit.

      • capital
        link
        410 days ago

        Everyone who could have voted Harris but didn’t is complicit. Or at least was fine with a Trump presidency.

        That’s most people in the US.

        • Ech
          link
          fedilink
          English
          310 days ago

          Why do you think I’m talking about them? I said tried.

          • capital
            link
            1
            edit-2
            10 days ago

            I’m not disagreeing with you. Just pointing out that most of the US is at fault for what’s to come.

    • @[email protected]
      link
      fedilink
      English
      810 days ago

      Yep. Non voters asked for this, whether they realize it or not. Hope they enjoy the shit sandwich

    • @satanmat
      link
      311 days ago

      Surly the face eating leopard won’t eat MY face…