Musk Team’s Blitz on Consumer Financial Agency Unsettles Trump Allies
- Agency goes dark amid DOGE’s whirlwind government overhaul
- Rapid-fire gutting of CFPB faces legal challenge in court
The US Consumer Financial Protection Bureau headquarters in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
From the moment the Consumer Financial Protection Bureau opened its doors in the summer of 2011, powerful critics have wanted to rein it in — and the regulator was one of the very first targets of Elon Musk’s scorched-earth overhaul of the US government.
Since Musk vowed to “delete” the agency, hundreds of its workers have lost their jobs. Enforcement activity has ground to a halt. President Donald Trump boasted that his administration had “virtually shut down CFPB.”