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Elon Musk Supports CFPB Cuts

This is a news story, published by MSN, that relates primarily to Elon Musk news.

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CFPB investigation

Insider

Insider

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Elon Musk wants to 'delete' a federal agency designed to prevent another financial crisis and protect people from scams

Insider

Summary

Nutrition label

84% Informative

Elon Musk has called for the Consumer Financial Protection Bureau to be abolished.

The agency was created by Congress as part of the 2010 Dodd-Frank Act .

Since its founding, the CFPB has faced legal challenges from Republicans and the banking industry.

It has issued $5 billion in civil penalties against banks, credit unions, debt collectors.

VR Score

85

Informative language

84

Neutral language

50

Article tone

formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

18

https://www.businessinsider.com/vivek-ramaswamy https://www.businessinsider.com/doge-elon-musk-vivek-ramaswamy-government-spending-cuts-veterans-nasa-2024-11 https://www.consumerfinance.gov/about-us/newsroom/bank-of-america-for-illegally-charging-junk-fees-withholding-credit-card-rewards-opening-fake-accounts/https://www.consumerfinance.gov/about-us/newsroom/cfpb-bans-excessive-credit-card-late-fees-lowers-typical-fee-from-32-to-8/https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11 https://www.businessinsider.com/doge-government-efficiency-elon-musk-cuts-worry-federal-workers-layoffs-2024-11 https://www.consumerfinance.gov/rules-policy/final-rules/defining-larger-participants-of-a-market-for-general-use-digital-consumer-payment-applications/https://www.aba.com/about-us/press-room/press-releases/aba-sues-cfpb-over-new-regulation-restricting-credit-card-late-fees#:~:text=The%20American%20Bankers%20Association%20today,hurt%20rather%20than%20help%20consumers.https://www.reuters.com/legal/us-banking-industry-files-legal-challenge-against-new-open-banking-rules-2024-10-22/https://www.politico.com/news/magazine/2024/10/24/why-republicans-praising-consumer-financial-protection-bureau-00185178 https://hls.harvard.edu/today/elizabeth-warren-a-crusader-for-fairness-will-shape-the-new-bureau-of-consumer-financial-protection-video/https://files.consumerfinance.gov/f/documents/cfpb_financial-report-fy-2024.pdf https://www.fedscope.opm.gov/ibmcognos/bi/v1/disp?BZ=1AAABnsT72MN42oVOsW6DQAz9mTNph0Y_wyVhYIDjUBiANLBXlFzSqsBFcB3y9xUwpFWGvidL9vN7lp2yWJdVcVRpHIzWDDqNn4DocyNI4jZU6PncQ0~tfIHRZiO5UKREtAWiZ2fKqvAo94ew2gdASWN6q3sLlJxNe9IDiAg87OtOgxuvDnXzVV~0_Ka6a2tune7tCkQMlFyXzV~73QWEL0Aov4dhmTLT248p68SlXMsiz5Ws0iLPw0wF~_Wc6DU4IzKOiJwjYwyZQEbIJjIWXnTf3IAQ6ASEYdsC_pkZ7eMpQJ8B7YBcBNIc6B3IXwR_F9gMIHey~wKfOXfLO3MtTyz4AbZLbJc%3D&b_action=powerPlayService&m_encoding=UTF-8 https://www.americanbanker.com/opinion/cfpb-has-become-the-regulatory-nightmare-republicans-always-feared https://www.businessinsider.com/how-many-federal-government-jobs-pay-salaries-elon-musk-doge-2024-11 https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-wells-fargo-to-pay-37-billion-for-widespread-mismanagement-of-auto-loans-mortgages-and-deposit-accounts/https://www.businessinsider.com/student-loan-forgiveness-debt-relief-borrowers-cfpb-scotus-2023-9 https://www.consumerfinance.gov/enforcement/enforcement-by-the-numbers/

Source diversity

9

www.businessinsider.com www.consumerfinance.gov www.aba.com www.reuters.com www.politico.com hls.harvard.edu files.consumerfinance.gov www.fedscope.opm.gov www.americanbanker.com

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