1. Musk is launching a digital wallet and peer-to-peer payment services on X.
Meanwhile, Musk's associates have just been granted access to confidential information about X's competitors, an official at the Consumer Financial Protection Bureau told Musk Watch.
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Meanwhile, Musk's associates have just been granted access to confidential information about X's competitors, an official at the Consumer Financial Protection Bureau told Musk Watch.
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2. On Saturday, OMB director Russell Vought assumed the role of acting director of the CFPB and instructed bureau staff to give DOGE access to all “non-classified” systems.
The info that the CFPB collects on digital payment apps is not classified.
muskwatch.com/p/musk-associa…
The info that the CFPB collects on digital payment apps is not classified.
muskwatch.com/p/musk-associa…
3. The bureau uses a process called “supervision” to comb through the internal information and processes of financial institutions, the official explained, producing records the bureau describes as confidential supervisory information, or CSI.
“If I were a potential competitor to Elon’s planned payments app, I would be concerned about DOGE looking at my CSI,” the CFPB official said. “Musk now has tremendous access to confidential information about his competitors,” the official warned.
“If I were a potential competitor to Elon’s planned payments app, I would be concerned about DOGE looking at my CSI,” the CFPB official said. “Musk now has tremendous access to confidential information about his competitors,” the official warned.
4. “Some of the information [Musk] now has access to: Violations of law that aren’t public, information about the systems and processes they use, the investigative tactics that the bureau used to uncover information about violations of law, how many customers they have.”
5. Pausing quickly to say at this moment, we need accountability journalism with NO BILLIONAIRE OVERLORDS.
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6. Special government employees like Musk are forbidden by law from participating in government operations that affect their financial holdings. DOGE’s access to data from the CFPB is an explicit instance of Musk’s business interests overlapping with his work for the White House.
The White House says it will be up to Musk to decide whether his work at DOGE conflicts with his business interests. “If Elon Musk comes across a conflict of interest with the contracts and the funding that DOGE is overseeing, then Elon will excuse himself,” the White House said on Wednesday.
muskwatch.com/p/musk-associa…
The White House says it will be up to Musk to decide whether his work at DOGE conflicts with his business interests. “If Elon Musk comes across a conflict of interest with the contracts and the funding that DOGE is overseeing, then Elon will excuse himself,” the White House said on Wednesday.
muskwatch.com/p/musk-associa…
7. The White House says it will be up to Musk to decide whether his work at DOGE conflicts with his business interests. “If Elon Musk comes across a conflict of interest with the contracts and the funding that DOGE is overseeing, then Elon will excuse himself,” the White House said on Wednesday.
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