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.

Earth’s richest person Elon Musk, President-Elect Donald Trump’s cost-cutting czar, identified a fresh federal government enemy: The Consumer Financial Protection Bureau, a relatively new agency created following the Great Recession.

Under Biden and Director Rohit Chopra, the agency has cracked down on home foreclosures and bank overdraft fees.

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

Elon Musk took to social media Wednesday to demand the shutdown of the Consumer Financial Protection Bureau (CFPB). Musk is

Billionaire Elon Musk has called for eliminating the Consumer Financial Protection Bureau (CFPB), 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 Consumer Financial Protection Bureau was created in 2008 to protect people from predatory financial practices

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.

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.

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