The billionaire aide to Donald Trump indicates he wants to see the end of an agency founded after the financial crash of 2007-8.

Summary

Elon Musk’s Department of Government Efficiency (Doge) has moved to take control of the Consumer Financial Protection Bureau (CFPB), an agency created after the 2007-08 financial crisis to regulate banks and protect consumers.

Trump appointed Doge officials to access CFPB systems, sparking protests and criticism from Democrats and employee unions.

Musk indicated plans to shut down the agency, aligning with Republican efforts to dismantle it.

Critics warn this threatens financial oversight and consumer data privacy, while Trump allies push for broader government cuts.