By Ricardo Lezama 
Just as new and potentially sophisticated technologies are poised to hit the market, the twink 20 year olds underneath Musk’s soft coup have gutted the Consumer Financial Protection Bureau.
What is the CFPB?
The Consumer Financial Protection Bureau (CFPB), an independent U.S. government agency responsible for protecting consumers in the financial sector, has terminated its operations, according to recent announcements and incursions by the DOGE team.
As expected, much of the competent – even if entrenched in job security – workforce has been leveled or pushed out in some way at the federal agency. The move, initiated by Russell Vought, acting head of the CFPB, sees the agency’s funding cut off as he believes it is not necessary. Vought’s controversial actions prompted users on social media to voice their concerns and criticisms.
On Blue Sky, users joked about Vought suggesting that federal agencies don’t need funding, equating his theory to vehicles running on dreams instead of fuel. The regulatory agency, set up to prevent potentially deceitful, unfair, and abusive financial practices, has returned billions to consumers since its inception, making individuals question the legitimacy of Vought’s decision.
The CFPB website has had intermittent functioning. Elon Musk for his part tweeted comments targeting the CFPB, but a broad rejection of his stance outside of his sycophantic circles. Observers argue that Musk seeks to dismantle the organization to evade its oversight. In a petition drive coordinated by an automated chatbot on BlueSky, the movement ‘Stop the Dismantling of the CFPB – Protect Consumers, Not Billionaires’ has emerged. The campaign encourages supporters to write to their local officials. Legally, the executive branch does not carry the authority to cut off an agency created by Congress, making this move a subject of debate.
The suspension of almost all of the CFPB’s operations under the director of the Office of Management and Budget (OMB) sparked significant backlash, largely seen as favoring corporations over everyday Americans. Critics argue that extreme government workforce cuts, such as those affecting the CFPB and similar agencies, might wipe out institutional memory and obstruct their rebuilding in the future if necessary.
Suspicions have surfaced that other government agencies may also be targeted. Amid heated discussion, Senator Bill Hagerty from the Senate banking committee, expressed no objection to Elon Musk’s attempts to unilaterally dismantle the CFPB. Many consider this detrimental to the poor and middle-class Americans who most benefit from the CFPB’s regulations and protections. Further backlash stemmed from the ripple effect this shutdown could have on other consumer financial products and services, leaving them without federal oversight. Most reasonable observers fear it could lead to unchecked corruption and impropriety by these corporations.