Deep Tide TechFlow News, on November 27, according to Jin Ten Data, Elon Musk called for the abolition of the Consumer Financial Protection Bureau (CFPB), highlighting that the Trump administration poses a new threat to this regulatory agency that has long been attacked by the Republican Party and business advocacy groups. Musk stated on social media on Wednesday, 'Abolish the CFPB, there are too many overlapping regulatory agencies.'

Musk will collaborate with the 'Department of Government Efficiency' led by the Trump administration, which aims to cut federal bureaucracy and reduce government spending. After the outbreak of the 2008 financial crisis, the CFPB was tasked with overseeing certain duties of the financial industry that interact with consumers. The agency has faced multiple legal challenges since its establishment.