Elon Musk on Wednesday called for the elimination of the Consumer Financial Protection Bureau, an agency that was founded in 2010 with a broad mandate to protect Americans from unfair and predatory financial practices.

The agency aims to protect consumers from unfair, deceptive or abusive financial practices by taking action against companies that break the law. In 2022, the CFPB ordered Wells Fargo to pay $3.7 billion for “widespread mismanagement” that led to misapplied loan payments, wrongfully foreclosed homes and more.

Delete CFPB,” Elon Musk, the billionaire tech executive running the “Department of Government Efficiency,” said in an early-morning post on X.

Earth’s richest person Elon Musk, President-Elect Donald Trump’s cost-cutting czar, identified a fresh federal government enemy: The Consumer Financial Protection Bureau, a relatively new agency created following the Great Recession.

Under Biden and Director Rohit Chopra, the agency has cracked down on home foreclosures and bank overdraft fees.

Elon Musk took to social media Wednesday to demand the shutdown of the Consumer Financial Protection Bureau (CFPB). Musk is

Musk, a confidante of the president-elect, is set to co-lead Trump’s newly created Department of Government Efficiency.

Elon Musk has asked social media users if funding for the Internal Revenue Service (IRS) should be "deleted" in a poll on X, formerly Twitter. "The IRS just said it wants $20B more money," Musk, who has been appointed to co-lead the informal Department of Government Efficiency under President-elect Donald Trump,

The comment on the Consumer Financial Protection Bureau follows Musk’s recent appointment to a government efficiency role, further amplifying the influence of the world’s rich

Billionaire Elon Musk asked social media users Wednesday if the Internal Revenue Service should be “deleted” — a day after a top Biden-Harris administration official urged Congress to give the federal agency $20 billion.