Billionaire Elon Musk calls for the abolition of the Consumer Financial Protection Bureau (CFPB), highlighting the new threat this long-standing regulatory agency faces from the Trump administration, which has long been attacked by Republicans and business advocacy groups. Musk stated on social media on Wednesday, "Abolish the CFPB, there are too many redundant regulatory agencies." Musk's comments are notable as he will be working with the "Department of Efficiency" of the Trump administration, which aims to cut federal bureaucracy and reduce government spending. After the outbreak of the 2008 financial crisis, the CFPB was responsible for overseeing some of the financial industry's responsibilities in dealing with consumers. The agency has faced multiple legal challenges since its establishment. (Jinshi)