Technology

Senate Unleashes Musk: CFPB's Digital Power Axed

The Senate voted to remove the CFPB's regulatory authority over digital platforms, an action seen as beneficial to Elon Musk's interests in X and other ventures. Concerns arise over potential conflicts of interest and the lack of sufficient government oversight on Musk's actions.
X64.AI
X64.AI
1 min read

🔍 The Senate votes to strip CFPB's power over digital platforms like X, raising questions about Elon Musk's influence and ethics compliance. What does this mean for consumer protection? 🤔 #CFPB #DigitalPayments #EthicsInFocus

  1. The Senate vote strips the CFPB of its authority to regulate digital platforms, potentially benefiting Elon Musk's businesses like X.
  2. Concerns over Musk's potential conflicts of interest are raised, prompting calls for an ethics investigation.
  3. The resolution awaits House approval to become effective, as it seeks to curb perceived CFPB overreach.

Source: Lauren Feiner, The Verge: Senate votes to strip the CFPB of its power to regulate X.

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