The agency aims to protect consumers from unfair, deceptive or abusive financial practices by taking action against companies that break the law. In 2022, the CFPB ordered Wells Fargo to pay $3.7 billion for “widespread mismanagement” that led to misapplied loan payments, wrongfully foreclosed homes and more.

The department wouldn't be a department at all, but an outside group that can likely only make suggestions — unless Trump tries to axe current laws.

Elon Musk and Vivek Ramaswamy are set to take the reins of the brand new “Department of Government Efficiency” (DOGE) under President-elect Trump — a panel with bold ambitions of

Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure

President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead his administration's new Department of Government Efficiency, or DOGE, to end "government waste" and "slash excess regulations.

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