Name: Musk, DOGE descend on consumer bureau
Uploaded: 2025-02-12T00:29:36+00:00
Duration: 1 min 3 s
Description: The Trump administration is rapidly dismantling the Consumer Financial Protection Bureau (CFPB), halting its operations, cutting funding, and closing its headquarters. This move mirrors earlier effort

9 months ago

News

The Trump administration is rapidly dismantling the Consumer Financial Protection Bureau (CFPB), halting its operations, cutting funding, and closing its headquarters.

This move mirrors earlier efforts to weaken the agency, but with Elon Musk’s Department of Government Efficiency (DOGE) aggressively slashing government programs, concerns are mounting over the extent of the damage.

Acting CFPB Director Russell Vought has ordered staff to stop work, rejected new funding, and allowed DOGE-affiliated employees access to sensitive data.

Democrats, including Sen. Elizabeth Warren and Rep. Maxine Waters, have condemned the effort, citing conflicts of interest and potential corruption, The Hill has reported.

Legal challenges have already been filed, warning that gutting the CFPB could leave consumers vulnerable to financial exploitation.

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