We support our Publishers and Content Creators. You can view this story on their website by CLICKING HERE.

Tesla and X owner Elon Musk on Wednesday argued that the Consumer Financial Protection Bureau (CFPB) should be eliminated because it was a “duplicative” regulatory agency. 

President-elect Donald Trump has not promised to eradicate the bureau, which would require an act of Congress, per Politico. Trump has called for the easing of regulations in the financial industry, which may involve reining in the bureau, but did not explicitly mention the CFPB on the campaign trail. 

The Heritage Foundation’s “Project 2025” recommended that the bureau be shut down, but Trump has distanced himself from that initiative in the past. 

Musk, who has been tasked with helping to shrink the size of the federal government and rein in spending, indicated that there are already too many duplicate agencies within the government.

“Delete CFPB,” Musk wrote in his post on X. “There are too many duplicative regulatory agencies.”

The post was in response to investor Marc Andreessen claiming he believes the CFPB was “terrorizing” tech firms and start ups.

Musk’s statement comes shortly after a new regulation from the CFPB seeking to expand oversight of Big Tech products which include online wallets. Musk has expressed interest in expanding his social media company to give users the capability of storing money and sending payments through the app.

Misty Severi is an evening news reporter for Just The News. You can follow her on X for more coverage.