{"id":16127,"date":"2025-01-18T15:50:38","date_gmt":"2025-01-18T15:50:38","guid":{"rendered":"https:\/\/lonecandle.com\/?p=16127"},"modified":"2025-01-18T15:50:38","modified_gmt":"2025-01-18T15:50:38","slug":"opinion-elon-musk-wants-to-delete-many-americans-financial-lifeline","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=16127","title":{"rendered":"Opinion &#8211; Elon Musk wants to \u2018delete\u2019 many Americans\u2019 financial lifeline"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">&#8220;Elon Musk \u2014 who, along with Vivek Ramaswamy, has been tasked by President-Elect Trump with running a new&nbsp;<a href=\"https:\/\/www.cbsnews.com\/news\/trump-department-of-government-efficiency-doge-elon-musk-ramaswamy\/\" rel=\"noreferrer noopener\" target=\"_blank\">Department of Government Efficiency<\/a>&nbsp;\u2014 posted on his platform X that he&nbsp;<a href=\"https:\/\/www.politico.com\/live-updates\/2024\/11\/27\/congress\/delete-cfpb-musk-calls-for-elimination-of-consumer-bureau-00191994\" rel=\"noreferrer noopener\" target=\"_blank\">wants to \u201cDelete CFPB,\u201d<\/a>&nbsp;referring to the Consumer Financial Protection Bureau. The agency, Musk said, was part of a problem of \u201ctoo many duplicative regulatory agencies\u201d in Washington. But there are no other agencies in the federal government returning money to Americans\u2019 bank accounts in the way the CFPB does.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since its founding, the agency&nbsp;<a href=\"https:\/\/www.yahoo.com\/news\/elon-musk-wants-delete-federal-214133728.html\" target=\"_blank\" rel=\"noreferrer noopener\">has returned more than $19 billion<\/a>&nbsp;in cash to people who have been scammed by financial institutions, including predatory payday lenders and even some of the largest banks in the country. It has done so under Republican and Democratic presidents, including major actions against Wells Fargo and Equifax during President Trump\u2019s first term in office, which, combined, returned $425 million to consumers. (Those actions both began under the Obama administration, but Trump\u2019s CFPB directors oversaw the execution of those fines.)&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/finance.yahoo.com\/news\/opinion-elon-musk-wants-delete-143000169.html\">https:\/\/finance.yahoo.com\/news\/opinion-elon-musk-wants-delete-143000169.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Elon Musk \u2014 who, along with Vivek Ramaswamy, has been tasked by President-Elect Trump with running a new Department of Government Efficiency \u2014 posted on his platform X that he wants to \u201cDelete CFPB,\u201d referring to the Consumer Financial Protection Bureau. The agency, Musk said, was part of a problem of \u201ctoo many duplicative regulatory agencies\u201d in Washington. But there are no other agencies in the federal government returning money to Americans\u2019 bank accounts in the way the CFPB does.<br \/>\nSince its founding, the agency has returned more than $19 billion in cash to people who have been scammed by financial institutions, including predatory payday lenders and even some of the largest banks in the country. It has done so under Republican and Democratic presidents, including major actions against Wells Fargo and Equifax during President Trump\u2019s first term in office, which, combined, returned $425 million to consumers. (Those actions both began under the Obama administration, but Trump\u2019s CFPB directors oversaw the execution of those fines.)&#8221;<\/p>\n<p>https:\/\/finance.yahoo.com\/news\/opinion-elon-musk-wants-delete-143000169.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[928,1759,7,278,1598,1193,1977,1976,279],"class_list":["post-16127","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-cfpb","tag-consumer-financial-protection-bureau","tag-debt","tag-deficit","tag-elon-musk","tag-government-spending","tag-scammers","tag-scams","tag-spending"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16127"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16127\/revisions"}],"predecessor-version":[{"id":16128,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/16127\/revisions\/16128"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}