Reported about 7 hours ago
Elon Musk has called for the Consumer Financial Protection Bureau (CFPB) to be eliminated, criticizing it for being a duplicative regulatory agency that hinders fintech startups and competition with major banks. His comments followed a podcast discussion with venture capitalist Marc Andreessen, who accused the CFPB of unfairly targeting new financial institutions, particularly in the crypto space. Musk's push for the agency's dissolution aligns with his role as an advisor in the incoming Trump administration, as he and others advocate for reducing federal regulatory oversight.
Source: YAHOO