Opinion: The closure of a consumer watchdog will help Elon Musk — but hurt the rest of us

Photo credit: Kenny Holston-Pool / Getty Images / MSNBC. Opinion article by Helaine Olen, managing editor at the American Economic Liberties Project. MSNBC – February 10, 2025. For further info: CFPB Employee Salaries.

The Trump administration has effectively shut down the Consumer Financial Protection Bureau, at least for now. Over the weekend, acting CFPB head Russell Vought stopped all agency supervision and announced he would not seek further funding. On Monday, he sent an email to all CFPB employees telling them, “Do not perform work tasks.” This followed […]

Click here to view original web page at www.msnbc.com

Related articles:

‘We run the risk of another Great Recession’: People should be outraged by Trump’s efforts to kill CFPB – Fast Company

Former CFPB director says Trump ‘begging for another financial crisis’ by closing agency – PBS News

What’s at stake in DOGE’s CFPB shutdown – Axios

‘We are here to fight back’: hundreds protest suspension of US financial watchdog – The Guardian

As he targets the CFPB, Elon Musk looks to dismantle his own potential regulator – Yahoo Finance