Protection Bureau: the watchdog Republicans love to hate

[multigraincracker]

Elon Musk recently tweeted that he’d like to “delete” the Consumer Financial Protection Bureau. If you haven’t heard of the CFPB, but you’re a consumer who spends money in America, it’s worth knowing a bit about what it does, why President-elect Donald Trump's allies want to get rid of it and what’s technically possible under federal law.
The CFPB — created to protect consumers from predatory and abusive practices in the financial sector — has drawn Republicans' ire since it was signed into law in 2010. It now has the attention of Musk, a co-leader of Trump's "Department of Government Efficiency" — a nongovernmental group created to help “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," according to his statement.

For now, simply “deleting” government agencies isn’t possible. Nor is it possible for a president to issue an executive order eliminating the CFPB; that could violate the Constitution, which states that the president is obligated to ensure that the nation’s laws are faithfully executed, legal experts say.

https://www.salon.com/2024/12/11/consumer-financial-protection-bureau-the-watchdog-love-to-hate/

[canuckledragger]

1. That's because republicans have always been allergic to accountability.

[allegorical oracle]

2. Yep. And Elon probably wouldn't care if every one of his vehicles exploded in people's

garages as long as he wasn't held responsible. It's all about making money, not refunding it.