Elon Musk took to social media Wednesday to demand the shutdown of the Consumer Financial Protection Bureau (CFPB).
Musk is spearheading President-elect Donald Trump’s initiative to reduce the size of the federal government. In a post on X, previously known as Twitter, Musk said that the CFPB should be dismantled and claimed that the regulatory agency overseeing potential future payment operations for Musk’s X platform is redundant.
Delete CFPB. There are too many duplicative regulatory agencies.
— Elon Musk (@elonmusk) November 27, 2024
While Trump has advocated for reduced financial industry regulations throughout his campaign, he has not specifically demanded the closure of the CFPB, Politico reported. Although Trump has distanced himself from the Heritage Foundation’s Project 2025, which advises shutting down the CFPB, his administration is expected to curb the…
