New Developments in the War Against the CFPB

What promise was made to the American people that mandated the end of consumer financial protection? While health insurers continue to strip seniors of their savings, congress is passing laws to protect fintechs from oversight. How does handicapping an agency that returns more money to consumers than it spends make America great?

The Senate has voted to strip the Consumer Financial Protection Bureau (CFPB) of its authority to regulate digital payment platforms—potentially paving the way for Elon Musk’s X (formerly Twitter) to expand its financial services. While the proposal still needs approval from the House, Senators Elizabeth Warren and Adam Schiff are calling for an ethics investigation into Musk’s involvement.

Musk, through his Department of Government Efficiency (DOGE), has been pushing for financial deregulation to help transform X into an “everything app” that includes peer-to-peer payments. With a Visa partnership already secured, could X soon replace your bank? And is this reform, or a conflict of interest?

🔥 What do you think? Should digital payments be free from regulation?