A non-government, non-elected official doesn’t have the authority to shut down a government agency. But as we are finding out in the Trump Administration, that may not matter if you cut nearly every job, thereby rendering it uncapable of carrying out is mission, and turn over its business to states. In this case, The Consumer Financial Protection Bureau (CFPB, tasked with many things including regulating Elon Musk’s X’s digital wallet venture) is reportedly in the process of laying off 1,500 employees, which will reduce the agency’s staff to 200.
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Market Minute - November 13, 2026
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