Popular financial investigator and YouTuber Stephen Findeisen, better known as Coffeezilla, earlier this week expressed his frustration on X with what he sees as lax enforcement against financial crimes. In a widely shared tweet, he stated, “Best time in history to be a white-collar criminal.”

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Trump Administration’s Deregulation Efforts Under Scrutiny

His comment comes amid a series of high-profile decisions by the Trump administration regarding financial regulations and consumer protection agencies. Most notably, the Consumer Financial Protection Bureau has been shut down, with President Donald Trump calling it a “terrible” agency that “destroyed small banks and businesses.” Speaking at the Conservative Political Action Conference on Feb. 22, Trump explained that he dismantled the CFPB after hearing complaints from bankers and loan officers who were “almost crying” over its regulations.

The CFPB was originally created in response to the 2008 financial crisis, aiming to protect consumers from predatory lending and financial misconduct. However, Trump and his allies, including Elon Musk, have worked to eliminate the agency, arguing that it over-regulated financial institutions and made business operations more difficult with a now infamous post on X from Musk simply saying, “CFPB RIP.”

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Consumer Protection Measures on Hold

The decision to shut down the CFPB means several planned consumer protection measures, such as capping credit card late fees and limiting overdraft charges, have been put on hold. This move has drawn sharp criticism from figures like Rep. Bill Foster (D-IL), who said, “The CFPB makes up just 0.01% of the federal budget, yet it has returned $21 BILLION to American taxpayers. Still, Trump & Musk want to shut it down and make it easier for scammers to rip you off.”

Adding to concerns about financial oversight, the CFPB recently dropped a lawsuit against JPMorgan Chase JPM, Wells Fargo WFC, and Bank of America BAC over alleged fraud on the peer-to-peer payment network Zelle. The lawsuit, originally filed in December under the Biden administration, accused the banks of failing to protect customers from fraud. With its dismissal, the agency will not be able to pursue similar charges against the banks in the future.

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Controversy Over the U.S. Crypto Reserve Plan

Trump’s recently announced plan to create a U.S. crypto reserve has caused a lot of debate. The reserve would include Bitcoin, but also other digital currencies like Ethereum, XRP, Solana, and Cardano. Some of his biggest supporters in the tech and crypto world are not happy about this decision.

Critics, including Gemini co-founder Tyler Winklevoss, argue that Bitcoin alone should have been included, as it is decentralized and scarce. “I have nothing against XRP, SOL, or ADA, but I do not think they are suitable for a Strategic Reserve,” Winklevoss said. Others worry that taxpayer money is being used to artificially boost the value of certain cryptocurrencies, with blockchain startup Civic co-founder Vinny Lingham commenting, “Call me old-fashioned, but I don’t think the government should be pumping our crypto bags with taxpayer money while we are running a near $2 trillion deficit.”

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On the other hand, both Trump and his wife, Melania, have launched their own meme coins. However, nearly everyone who bought Trump’s meme coin has lost money on it. Shortly after its launch, the coin’s value plummeted from its all-time high of $78 to just $13 per token. At its peak, the coin reached a market cap of nearly $72 billion, but its dramatic fall has been attributed to 21 whales cashing out early, leaving most retail buyers at a loss.

Bloomberg reported last month that $214 million in profits went to these whales within the first two days of the coin's release, while at least 20% of buyers either broke even or lost money. The whales’ transactions were notably well-timed, with some making substantial moves within minutes of the announcement.

While Trump and his administration argue that their moves will promote economic growth and reduce government overreach, critics—including Coffeezilla—see these decisions as making it easier for financial misconduct to go unchecked. Whether these changes result in greater financial freedom or more opportunities for white-collar crime remains to be seen.

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