Elon Musk and Vivek Ramaswamy, whom Trump has tasked with slashing government costs, called for the CFPB to be deleted.

The Consumer Financial Protection Bureau (CFPB) came into existence when President Barack Obama signed into law the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. One of the most aggressive proponents of the agency was now-Sen.

Musk called for eliminating the Consumer Financial Protection Bureau, highlighting the renewed threat under Trump to a regulatory agency that has long been a target of Republicans and business advocacy groups.

Meanwhile, the consumer finance watchdog is moving ahead with rulemaking in the final weeks of Biden's administration.

The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.

Elon Musk, who will have a role in the Trump administration overseeing government "efficiency," called for the CFPB to be "deleted."

Billionaire Elon Musk called for eliminating the Consumer Financial Protection Bureau, highlighting the renewed threat under President-elect Donald Trump to a regulatory agency that has long been a target of Republicans and business advocacy groups.

The comment on the Consumer Financial Protection Bureau follows Musk’s recent appointment to a government efficiency role, further amplifying the influence of the world’s rich

Billionaire Elon Musk, tasked with slashing government costs by U.S. President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector.