John,
The Consumer Financial Protection Bureau (CFPB) is a federal agency designed to act as a financial watchdog for consumers and hold corporations accountable.
Over the past 14 years of its existence, the agency has returned more than $17 BILLION back to consumers from predatory institutions, big banks, and other bad actors who ripped them off.
Of course, Elon Musk, Big Tech, and the Crypto Lobby want to stop that.
Last week, Musk tweeted, “CFPB RIP 🪦” and sent his DOGE goons into the agency, accessing its systems, shutting down its Twitter account, and sending its staff home. This happened just days before Musk revealed plans to launch a new payment system on X/Twitter that the CFPB would have regulated.
It’s not just Musk who wants to kill the CFPB. Coinbase CEO and Fairshake (a Crypto Super PAC) megadonor Brian Armstrong is wrongly claiming the agency is unconstitutional, even though the Supreme Court said otherwise.
It’s completely obvious: billionaires like Musk, Big Tech, and the Crypto Lobby want to dismantle the agency responsible for regulating them and protecting consumers from them.
They dumped billions of dollars into last year’s elections to gain the power necessary to gut it — but Justice Democrats like Reps. Ilhan Omar, AOC, and Summer Lee are fighting back.
In solidarity,
Justice Democrats