Released: February 06, 2018
Consumer advocates argue for a strong, independent CFPB
Agency’s independence is necessary to its mission, groups tell Appellate court
For Immediate Release: Feb. 6, 2018
WASHINGTON, D.C. – The U.S. Consumer Financial Protection Bureau’s (CFPB) independence from external political influence is crucial to the agency’s mission of protecting consumers, 10 groups told a court today in an amicus brief filed in the U.S. Court of Appeals for the District of Columbia Circuit.
The groups are Consumer Action, Americans for Financial Reform, Center for Responsible Lending, National Association of Consumer Advocates, National Consumer Law Center, National Consumers League, National Fair Housing Alliance, Public Citizen, Tzedek DC and U.S. Public Interest Research Group Education Fund.
In the case, CFPB Deputy Director Leandra English is appealing the trial court’s denial of a preliminary injunction allowing her to serve as acting director of the CFPB while litigation proceeds over the lawful acting director—herself or U.S. Office of Management and Budget Director Mick Mulvaney. In their amicus filing, the groups explain that the public interest supports English serving as the acting director while the court further considers the legal issues.
“Consumers need and expect the consumer bureau to continue its mission as an independent, financial watchdog that roots out unfair business practices and holds companies accountable,” said Linda Sherry, Consumer Action’s director of national priorities. “We can’t stand by and watch a political appointee work to dismember the CFPB for political gain.”
The amicus brief is here.