Billionaire Elon Musk, tasked with slashing government costs by U.S. President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector.

Elon Musk, the tech billionaire and owner of X (formerly Twitter), has sparked controversy with his recent call to “delete” the CFPB.

The Consumer Financial Protection Bureau (CFPB) came into existence when President Barack Obama signed into law the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. One of the most aggressive proponents of the agency was now-Sen.