Trump ally Elon Musk calls to ‘delete’ US consumer protection bureau
Al Jazeera
Musk, a confidante of the president-elect, is set to co-lead Trump’s newly created Department of Government Efficiency.
Tech billionaire Elon Musk has expressed support for binning a federal agency in the United States designed to protect consumers from predatory financial practices.
In an early-morning message on his social media platform X, Musk called for an end to the Consumer Financial Protection Bureau (CFPB), an independent watchdog agency with oversight over banks and other financial institutions.
“Delete CFPB. There are too many duplicative regulatory agencies,” Musk wrote on Wednesday.
Musk is set to advise the administration of President-elect Donald Trump in the new year, in a newly created role to slash government bureaucracy.
Trump announced his plans for the Department of Government Efficiency, or DOGE, on November 13, with Musk and fellow entrepreneur Vivek Ramaswamy at its head.
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