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.

  • Ech
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    2911 days ago

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

      • Ech
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        211 days ago

        That’s good.

    • capital
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      411 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
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        311 days ago

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

        • capital
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          11 days ago

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