Musk’s Dogi American Consumer Protection Agency targets

The Trump Administration and the Department of Government Efficiency (DOGE) of Elon Musk (DOGE) have closed an agency established to protect consumers in view of the financial crisis of 2007–8 – and possibly discontinued.

Consumer Financial Protection Bureau (CFPB) oversees banks and keeps a huge trove of consumer data.

As part of the US Federal Reserve, CFPB is an independent agency, although Trump’s budget director was established as its director on Friday, and Dogi officials have gained access to the agency’s computer system.

About 100 workers protested outside the CFPB office on Saturday.

The agency is the latest department of the US government, which is targeted by Dogi is an informal cost-coting group that Donald Trump has given extensive carriage to reduce the government’s expenses and remove employees.

Musk and Dogge have already led the attempt to abolish USAID, the main American foreign aid agency, and Dogi employees have allegedly seen in several other federal government departments.

The number of dog personnel, its budget and its operational structure is not clear. Musk and the White House have provided some details about the operation of Dogi, and the names of Dogi’s employees come from the leaks by most government employees.

BBC US news partner CBS reported that DOGE representatives have reached the internal systems of CFPB, including the rolls and financial records of the personnel.

The Wall Street Journal said on Friday that the representatives of Dogi had access to “just-reading” for CFPB computer systems.

The agency controls more than $ 10bn (£ 8BN) in assets and financial institutions.

It was established as part of the reforms after the upheaval of the Great Recession in 2007–8 in 2011, which was triggered by an accident in the US Subprime Horticulture Debt Market.

It has an annual budget of about 1,750 employees and an annual budget of $ 758m.

It complains to customers about financial products and has some power to make consumer finance rules. For example, in 2024, this credit card limits late fees to $ 8 (£ 6.45), although that rule change is delayed by a legal challenge.

The agency has long been the Republican’s target, which has accused it of overrech, banning banks and using funds from fines and settlements to fundamental activist groups.

The front page of the CFPB website returned an error message on Saturday, although most of the rest of the site was working normally.

The House Financial Services Committee, the top Democrat on the Maxin Waters issued a statement claiming that Dogi was “systematically killing CFPB”.

“CFPB’s acquisition of Musk is a five-alarm crisis and a terrible violation of data privacy of millions of Americans. As it stands, Musk can now see personal information of people who after being swinded by bad actors , Arrived out, CFPB, in an instant of frustration, “Waters said.

Waters said that this data may include bank statement, credit card information, social security number and medical information.

In a statement, the National Treasury Employees Union, which represents CFPB employees, stated that there is “potentially dangerous infiltration” in Dog’s activities. The Sangh said that it would pursue all the ways to protect private data from consumers and financial institutions.

On Friday, Musk wrote “CFPB RIP” on his X account. Posting several times in an hour, he reiterated allegations of extensive criminality, fraud and misuse in the government and indicated that he would try to close the bureau.

Last month, President Trump fired CFPB director Rohit Chopra, who was appointed by the President Joe Biden, and established Treasury Secretary Scott Bassant as the head of the agency.

But on Friday, Trump created another switch, with the agency’s control Russell Wout, the new approved director of the office and the newly approved director of the budget.

The writer of the Vught Project 2025 was, A list of proposals issued by Heritage Foundation Think Tank – One of which asks to eliminate CFPB.

The BBC contacted a spokesperson of CFPB, White House and a Dogi for remarks.