With Elon Musk at the helm of D.O.G.E, significant changes are underway at the CFPB. These changes, however, stir anxiety among some of President Trump's aides.
D.O.G.E slashes CFPB without a clear plan
Elon Musk's team has been restructuring federal agencies, dismissing employees, and shutting down programs. The Heritage Foundation's blueprint urged Congress to eliminate the CFPB, but D.O.G.E bypassed lawmakers. Now, D.O.G.E staff are working from CFPB's basement, scrutinizing agency contracts and office leases.
Federal employees sue Trump in fear of retaliation
A group of federal employees are suing, fearing dismissal and harassment. Concerns over physical and mental harm prompted anonymity protection. Judge James Boasberg has blocked further layoffs.
Elon's digital payment ambitions and the fall of CFPB
Weakening CFPB aligns with Elon Musk's digital payment ambitions. Removing CFPB clears the way for his financial platform plans. Senator Elizabeth Warren, a CFPB co-creator, is defending the agency.
Elon Musk's and D.O.G.E's actions are reshaping federal agencies, causing concern in Trump's circle and leading to legal battles. These changes could have major implications for financial regulation.
