US Edition21 Democratic-led states sue White House over consumer protection bureau funding
A coalition of 21 Democratic-led states argues the White House's funding halt threatens the agency's ability to handle 3 million consumer complaints annually, risking closure by January.
- On Monday, a coalition of 21 Democratic-led state attorneys general filed suit in U.S. District Court in Eugene, Oregon to block the administration's funding move, naming Russell T. Vought, Acting Director of the Consumer Financial Protection Bureau and the Federal Reserve Board of Governors as defendants.
- The White House argues the CFPB can only draw Fed funds with `combined earnings`, a DOJ opinion treats this as profits while the Fed has been operating at a loss, and lawmakers say it means revenues.
- This year the CFPB curtailed enforcement and dropped notable cases, including actions tied to the Zelle payments app, while the complaint alleges the agency will run out of cash by next month if funding is not restored.
- States warn defunding will disrupt efforts to stop predatory lenders and scammers, depriving states and state attorneys general of access to the CFPB consumer-complaint database tracking millions of complaints.
- Union litigation separately challenges the same funding theory as the White House, while Congress created the CFPB after the mortgage crash, returning nearly $21 billion to more than 205 million Americans.
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California, other states sue to protect federal consumer agency
California Attorney General Rob Bonta joined 21 other states and Washington D.C. in a lawsuit that seeks to prevent the Trump administration from defunding the Consumer Financial Protection Bureau.
Illinois among 22 attorneys general suing to keep consumer bureau funded – Center Square
The lawsuit challenges CFPB Acting Director Russel Vought’s refusal to request necessary funding from the Federal Reserve. The bureau's action was based on a U.S. Department of Justice analysis that said money is taken from the Federal Reserve's profits, which currently don't exist. The suit argues Vought's decision is contrary to congressional mandates and violates the Administrative Procedure Act and the U.S. Constitution.
Oregon, 20 other states sue Trump administration for attempts to defund consumer watchdog agency
The Democratic attorneys general of 21 states and Washington, D.C., are suing the Trump administration for its attempts to defund the Obama-era federal agency created to protect Americans from consumer fraud and discriminatory lending.
Los Angeles (USA), Dec 22 (EFE).- A coalition of 21 Attorney Generals sued President Donald Trump’s government on Monday to prevent the closure of the Consumer Financial Protection Office (CPB), which is responsible for protecting customers in the US financial market and has been targeted by the White House. The legal complaint appoints CFBP Acting Director Russell Vought, who also serves as Director of the U.S. Bureau of Administration and Budg…
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Attorneys general sue to keep consumer bureau funded
(The Center Square) - Democratic attorneys general from 22 jurisdictions sued the Trump administration Monday over its plans to defund the Consumer Financial Protection Bureau.
Oregon AG leads multistate lawsuit to prevent defunding of consumer watchdog
PORTLAND, Ore. (KOIN) — A coalition of Democratic states are suing to stop the Trump administration from defunding the country's only consumer watchdog. Led by Oregon Attorney General Dan Rayfield, 20 states, and the District of Columbia filed a lawsuit in federal court Monday in the District of Oregon to stop the defunding of the [...]
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