Tech billionaire Elon Musk has sparked debate after calling for the elimination of the Consumer Financial Protection Bureau (CFPB), an independent federal watchdog that protects Americans from financial exploitation.

The Consumer Financial Protection Bureau has long been a target for conservative ire, but dismantling it would require Congress' cooperation.

Musk called for eliminating the Consumer Financial Protection Bureau, highlighting the renewed threat under Trump to a regulatory agency that has long been a target of Republicans and business advocacy groups.

Meanwhile, the consumer finance watchdog is moving ahead with rulemaking in the final weeks of Biden's administration.

Delete CFPB,” the billionaire tech executive running the “Department of Government Efficiency” said in an early-morning post on X.

Billionaire Elon Musk called for eliminating the Consumer Financial Protection Bureau, highlighting the renewed threat under President-elect Donald Trump to a regulatory agency that has long been a target of Republicans and business advocacy groups.

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

Republicans and the banking industry have accused the CFPB of regulatory overreach because it doesn't follow the usual congressional budget process.

Billionaire Elon Musk, tasked with slashing government costs by U.S. President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector.