Elon Musk Is Trying to Shut the CFPB. What Should Consumers Know?
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Republicans have had the US Consumer Financial Protection Bureau in their sights since its 2011 inception. With President Donald Trump back in the White House, they appear to be moving toward their goal of dismantling the federal watchdog, which they have long accused of overstepping its authority.
In early February, Trump administration officials began disabling the agency, suspending its work overseeing financial companies and closing its Washington, DC, headquarters. The administration fired the agency's director and dozens of other employees, but a plan to dismiss most of the CFPB 's more than 1,500 workers was put on hold to allow a judge to rule on a lawsuit filed by an employee union.
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