Summary
Elon Musk called to “delete” the Consumer Financial Protection Bureau (CFPB), which has returned nearly $20 billion to Americans since its creation after the 2008 financial crisis.
Critics, including Public Citizen, argue Musk’s stance is driven by conflicts of interest, as the CFPB recently finalized a rule to supervise large tech companies offering digital payment services—a business Musk appears poised to enter.
“In short, Musk is calling for elimination of the consumer protection regulator over a business line he seems poised to enter… This is systemic corruption at a grand and intolerable scale,” one advocate said.
The CFPB has long faced opposition from corporations and conservatives but is praised for combating financial abuses and protecting consumers.
The fact that trump was elected, or even close to it. And musk is now in the position he’s in, just makes it feel like our society is falling apart. Like death throes, or the calm before the storm.
This all really feels like societal collapse. I hope I’m wrong.