The White House plans to nominate Jonathan McKernan, a former member of the Federal Deposit Insurance Corporation, as full-time director of the Consumer Financial Protection Bureau, according to two sources familiar with the matter.

Tech billionaire Elon Musk, who has been tapped by President Donald Trump to lead federal cost-cutting efforts, said Tuesday that the United States would go "bankrupt" without budget cuts.

Elon Musk's various companies, including SpaceX and Starlink, have government contracts worth billions of dollars. According to the White House, Musk is a special government employee who is not getting paid.

WASHINGTON (AP) — The White House fired the inspector general for the U.S. Agency for International Development on Tuesday, U.S. officials said, a day after his office warned that the Trump administration’s dismantling of USAID had made it all but impossible to monitor $8.2 billion in unspent humanitarian funds.