Elon Musk’s recent overhaul of the US government has taken aim at the Consumer Financial Protection Bureau (CFPB), a regulator he vowed to “delete”. Since then, hundreds of agency workers have lost their jobs and enforcement activity has come to a halt. President Donald Trump claimed his administration had “virtually shut down CFPB”, with some critics labeling it an attempt to roll back financial regulations. However, the rapid-fire gutting of the agency is facing a legal challenge in court, sparking concerns over its future and the impact on consumers.
Source: https://www.bloomberg.com/news/articles/2025-02-22/trump-allies-unsettled-by-musk-s-doge-blitz-on-cfpb