As he targets the CFPB, Elon Musk looks to dismantle his own potential regulator.
Elon Musk has spent years laying the groundwork to transform X into a digital payments platform. Now he appears to be helping dismantle the agency that would oversee it.
Over the weekend, the Trump administration ordered a halt to effectively all work at the Consumer Financial Protection Bureau, the regulator that ensures companies like large banks, mortgage lenders, student loan servicers, and online payment apps don’t bilk their customers. It also barred employees from showing up to the agency’s Washington, D.C., headquarters this week, apparently following the playbook it used to rapidly shut down USAID earlier this month.
Musk seemed to signal those moves were imminent on Friday afternoon, tweeting “CFPB RIP” just hours after members of his Department of Government Efficiency — aka DOGE — set up shop at the agency.
Source: FINANCE.YAHOO