Attorney General Bonta Celebrates Early Win Halting the Destruction of the CFPB

OAKLAND — California Attorney General Rob Bonta today issued the following statement in response to a court granting a preliminary injunction in National Treasury Employees Union v. Vought, a lawsuit challenging the Trump Administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB). The decision prevents the Trump Administration from further demolishing the agency vital to federal consumer protections while litigation in this case proceeds. Last month, Attorney General Bonta joined a coalition of attorneys general in submitting an amicus brief arguing that the shuttering of the CFPB would cause catastrophic harm to consumer protections nationwide and leave state agencies with the sole responsibility to protect consumers from conduct regulated by the CFPB. 

“The CFPB is the top cop protecting American families who want to buy a home and people who want to borrow money to buy a car or attend college. The CFPB is for everyone. This agency fights for hardworking people who don’t want to get cheated by big banks and predatory lenders and protects a level playing field where businesses can succeed on merit rather than by cutting corners and cheating their customers,” said Attorney General Bonta. “The court order today prevents the Trump Administration from continuing its illegal attempt to destroy the agency looking out for consumers across the country. I celebrate this early win and will continue to use the power of my office to advocate for essential consumer protections nationwide.”