Musk’s Doge takes aim at US consumer protection agency

The Trump administration and the Ministry of Governmental efficiency in Ellen Musk moved to control – and possibly closure – an agency established to protect consumers in the wake of the 2007-8 financial crisis.

The Consumer Protection Office (CFPB) oversees banks and holds wide vehicles of consumer data.

As part of the American Federal Reserve, CFPB is an independent agency, however, Trump’s budget manager was installed as its director on Friday, and Dog officials have been able to reach the agency’s computer systems.

About 100 workers outside the CFPB office protested on Saturday.

The agency is the latest administration in the United States government targeted by Dog, and it is an informal group to reduce costs by Donald Trump, a wide period for reducing government spending and removing employees.

Musk and Doge have already led the efforts to eliminate the United States Agency for International Development, the main US foreign aid agency, and DOGE employees, as was seen in many other federal government departments.

The number of DOGE employees, its budget and the operating structure is unclear. Musk and the White House provided a few details about the DOGE operations, and the names of the DOGE employees often came from the leakage by government employees.

CBS, the BBC, reported that Doug’s representatives have been able to reach the internal systems of CFPB, including employee lists and financial records.

The Wall Street Journal reported on Friday that Doug’s representatives had received “reading only” to CFPB computer systems.

The Agency organizes banks and financial institutions with more than 10 billion dollars (8 billion pounds) in assets.

It was established in 2011 as part of the reforms after the Great Revolution Revolution in 2007-8, which was partially developed through a collision in the real estate lending market in the United States.

It has about 1750 employees and an annual budget of $ 758 million.

This leads to complaints about customer financial products and have some ability to set consumer financing rules. In 2024, for example, it limits the late credit card fees to $ 8 (6.45 pounds), although this change was delayed through legal challenge.

The agency has always been a target for the Republicans who accused it of transgressing, unjustified restrictions, and using money from fines and settlements to finance the left -wing groups.

The first page of the CFPB website has returned a mistake on Saturday, but it seems that a large part of the rest of the site works normally.

Maxine Waters issued the Financial Services Committee in the House of Representatives, a statement claiming that Dog “systematically kills CFPB”.

“Musk’s acquisition of CFPB is a five -pond crisis and a frightening violation of millions of Americans’ data. As Musk can now see the personal information of people who, after the bad actors strangled them, said to Waters:“ CFPB is in a moment of despair. ”

Watermers said this data can include banking data, information about credit cards, social security numbers and medical information.

In a statement, the National Treasury Employees Union, which represents CFPB employees, said that Dog’s activities had a “serious penetration”. The Federation said it will follow all ways to protect private data for consumers and financial institutions.

On Friday, Musk “CFPB Rip” wrote on his X account. After publishing it several times per hour, he repeated the allegations of criminality on a large scale, fraud and abuse throughout the government and indicated that he would try to close the office.

Last month, President Trump launched the director of CFPB Rohit Chopra, who was appointed by President Joe Biden, and installed the Treasury Secretary Scott Bessin as the agency’s head.

But on Friday, Trump made another key, giving the agency to Russell Fion, the newly accredited director of the management and budget office.

Vaght project was the author of 2025, List of proposals issued by the thought reservoir at the Heritage Foundation One of them calls for the cancellation of CFPB.

BBC called CFPB, the White House, and a DOGE spokesperson for comment.