More from the article...

... During Trump's first term, the CFPB " a brainchild of Sen. Elizabeth Warren, D-Mass., set up under the Federal Reserve after the 2008 financial crisis " unwound banking regulations while also securing some wins for consumers. They included a $1 billion settlement with Wells Fargo after a fraudulent account-opening scandal, as well as crackdowns on data breaches.

But more recently, Republicans have signaled plans to defang the agency, and Trump has named authors of Project 2025 -- which calls for eliminating the CFPB -- to influential posts.

On Wednesday, multibillionaire Trump donor Elon Musk, who is slated for a high-level cost-cutting role, posted on his social platform X: "Delete CFPB."

"I would expect a deregulatory approach on rules and also efforts to dismantle the agency itself," said Adam Rust, the director of financial services for the Consumer Federation of America, a network of advocacy groups. ...

@#$ ... Remember every single regulation is in response to a tragedy great or small. ...

While i do not agree with that statement 100%, I'd proffer it is 80 to 90% correct.

Federal regulations are a response to corporate (a.k.a. Big Money) exploitation of the workers.