<ul><li>The director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, was fired by President Donald Trump, leading to attempts by Elon Musk's Department of Government Efficiency (DOGE) to dismantle the agency.</li><li>The CFPB was created after the 2008 financial crisis to protect consumers from predatory lending practices and financial fraud. The agency has been popular for its efforts to safeguard consumers and limit credit card fees.</li><li>The decision to fire Chopra and the attempt to shut down the CFPB raise questions about the power of Trump and Musk to take such actions. There are concerns regarding the accountability and a clear plan for the government's policies.</li><li>The clash between Musk tech libertarians and the populist MAGA wing of the Trump coalition is putting the CFPB in the middle. While Musk's faction may benefit from a weakened regulator, the populist wing is wary of more power for big banks and Big Tech.</li></ul>

Why DOGE is killing the agency that keeps banks from ripping you off

Discover more