Protect the CFPB from Trump’s judges!
Petition to Congress: Corporate-aligned interests are striking at the Consumer Financial Protection Bureau’s funding structure and fundamental mandate. The CFPB is a crucial agency designed to protect everyday people from unchecked corporate power and greed. We urge you to do everything in your power to protect the CFPB from these attacks!
There’s a battle headed to the Supreme Court that could give a big win to MAGA Republicans, Trump-appointed judges, big banks, and payday lenders.
Conservatives and Wall Street are trying to shred the Consumer Financial Protection Bureau (CFPB), a federal agency created after the ‘08 crash to hold banks and financial institutions accountable when they take advantage of consumers. The CFPB has led to at least $13.5 billion in consumer relief,1 and we can’t let Trump’s extreme judges on the Supreme Court gut this agency.
Sign the petition: Congress has an integral role in this fight. Tell your lawmakers to pass legislation to protect the CFPB now!
Trump-appointed judges struck down funding for the CFPB last year on the Fifth Circuit, in a spurious ruling that claimed funding for the CFPB is unconstitutional.2 The Second Circuit Court unanimously disagreed last week and upheld the constitutionality of funding.3
In the fall, the Supreme Court plans to hear this case, and Trump judges will have another chance to crush the CFPB — unless Congress steps in.
The end goal of conservatives and banks is to get rid of the CFPB, because the CFPB has been successful in protecting consumers from predatory banks and Wall Street wants to be able to again exploit consumers and increase profits as much as possible. If the effort to dismantle the CFPB is successful, the winners will be the ultra-wealthy already profiting from taking advantage of the system.
Corporations, big banks, payday lenders, and all of their conservative allies will stop at nothing to weaken consumer protections in America. We need to act now, before it’s too late.
Sign the petition: Congress must do everything in its power to protect the Consumer Financial Protection Bureau!
Sources:
- CFPB, “Enforcement by the numbers,” July 2022.
- Politico, “Appeals court finds CFPB funding unconstitutional,” October 19, 2022.
- Bloomberg Law, “CFPB Independent Funding Constitutional, Second Circuit Rule,” March 23, 2023.
- CNBC, “A court just ruled that CFPB’s funding is unconstitutional, and that could be ‘catastrophic’ for mortgage markets,” October 28, 2022.