Defend the Consumer Bureau Updates

Do Consumers Need the CFPB?

By | Elizabeth Ridlington
Policy Analyst

The Consumer Financial Protection Bureau helps protect consumers in the financial marketplace, which includes banks, debt collectors, mortgage and vehicle lenders, credit card companies, credit bureaus, payday lenders, student loan servicers, and other financial actors. The CFPB protects all consumers by implementing fair, clear and transparent rules to protect consumers in the financial marketplace.

Last fall, a divided three-judge panel of the U.S. Court of Appeals for the D.C. Circuit wrongly concluded that the leadership structure of the Consumer Financial Protection Bureau violates the Constitution. U.S. PIRG Education Fund, along with many others, urged the full D.C. Circuit to rehear the case and correct the obvious errors in the panel’s decision. We were pleased when the D.C. Circuit agreed with our position and decided to rehear the case.

CFPB Is On The Job Protecting Consumers

By | Ed Mierzwinski
Consumer Program Director

While powerful special interests, Senators, the Chairman of the House Financial Services Committee and the White House call for dismantling the CFPB, firing its excellent director, or worse, CFPB continues to be an agency that is on the job, conducting business as usual to protect consumers. Its latest "Monthly Complaint Snapshot" is an open window into the many reasons we need a strong CFPB.

U.S. PIRG Statement on President Trump’s First Address to Congress

President Trump gave his first address to a joint session of Congress on Tuesday, highlighting his legislative priorities for the coming year. His speech touched on issues ranging from the budget, infrastructure, and special interest influence in government.

News Release | U.S. PIRG | Consumer Protection

Court to Rehear CFPB’s Constitutionality

Statement by Mike Landis, Litigation Director at U.S. PIRG, about today’s decision by the D.C. Circuit Court of Appeals to rehear en banc the panel ruling against the CFPB’s independent leadership. 

Defending the Consumer Bureau and Richard Cordray

By | Kathryn Lee
Digital Campaigner

“Rich Cordray is the LeBron James of regulators, it makes no sense to fire him.” Our consumer program director, Ed Mierzwinski, is right. We need to maintain a strong and independent Consumer Financial Protection Bureau, free from political and outside-industry influence. And to do that, we need to ensure Richard Cordray remains the Bureau’s director until the end of his term.

News Release | U.S. PIRG | Consumer Protection

Executive Orders Threaten CFPB, Other Critical Wall Street Reforms

The President is expected to sign Executive Orders today designed to re-rig the financial system by dismantling critical Wall Street reforms, including to weaken the Consumer Financial Protection Bureau. Our statement in opposition is below.

Consumer protection suspended

By | Kathryn Lee
Digital Campaigner

On Monday, President Trump promised to do “a big number” on the Wall Street reforms we helped pass in the aftermath of the Great Recession. On Friday, he started to follow through on his promise, delaying a commonsense consumer protection to require retirement advisers to act in their clients’ best interests.

News Release | U.S. PIRG | Consumer Protection

PIRG, Consumer Advocates Join Fight to Protect CFPB in Court

Today, U.S. PIRG, Americans for Financial Reform, The Leadership Conference on Civil and Human Rights, the Center for Responsible Lending, Self-Help Credit Union and Maeve Elise Brown, who chairs the CFPB Consumer Advisory Board, filed a motion with the DC Circuit, US Court of Appeals for leave to intervene in PHH vs. CFPB, a lawsuit challenging the CFPB's single-director structure. Today, Senator Sherrod Brown (OH) and Rep. Maxine Waters (CA), ranking members of the Senate Banking and House Financial Services Committees, also filed a similar motion. Earlier this week, 17 state Attorneys General filed a similar motion on behalf of their citizens. 

Report | U.S. PIRG | Financial Reform

PIRG, Consumer Advocates Join Fight to Protect CFPB in Court

Here is a copy of the motion filed today by U.S. PIRG and other groups in the DC Circuit, U.S. Court of Appeals, seeking to intervene in defense of the CFPB in the case PHH vs. CFPB. 

DEFEND THE CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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