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The Consumer Financial Protection Bureau (CFPB) is being torn apart by Elon Musk’s Department of Government Efficiency (D.O.G.E), and according to a Bloomberg report, not everyone in president Donald Trump’s circle is happy about it. Since taking control in January, Elon has axed hundreds of employees, stalled investigations, and wiped the agency’s name off its headquarters in Washington, D.C. Trump called it a win, saying his administration had “virtually shut down CFPB.” But behind closed doors, some of his top aides are reportedly worried Elon is moving too fast and could blow everything up in court. Russell Vought, who runs the Office of Management and Budget and is also acting CFPB director, has reportedly shared concerns about D.O.G.E’s lack of discipline. Him and other Trump allies fear Elon’s aggressive tactics could lead to lawsuits, and if a judge intervenes, the CFPB could survive. Notably, the Bloomberg report says a spokesperson for Vought denied any tensions exist, calling the reports “false and just another ax-to-grind story against D.O.G.E.” D.O.G.E slashes CFPB without a clear plan Elon’s team has been wiping out agencies across the federal government since Trump’s inauguration, with D.O.G.E workers firing thousands of employees, canceling contracts, and gutting programs they say don’t fit Trump’s agenda. The Heritage Foundation’s Project 2025—a conservative blueprint for the government—called for Congress to eliminate the CFPB, but Elon has bypassed lawmakers completely. Now, D.O.G.E employees are operating out of the CFPB’s basement, tearing through agency contracts, asking staff which ones are required by law, and looking for anything they can cut. When they first arrived, CFPB employees were shocked—according to the report, it seemed like the D.O.G.E team had no idea what the agency even did. The confusion hasn’t slowed them down. Office leases are being reviewed, and oversight of major banks and fintech…

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Filed under: News - @ February 23, 2025 8:19 am