Connecticut Delegation & Colleagues File Amicus Brief Slamming President Trump's Lawless Attempts to Dismantle the Consumer Financial Protection Bureau

80,000 CT victims of financial abuse received more than $45 million in relief from agency
[HARTFORD, CT] – Today, U.S. Senators Richard Blumenthal (D-CT) and Chris Murphy (D-CT) and U.S. Representatives John B. Larson (D-CT-01), Joe Courtney (D-CT-02), Rosa DeLauro (D-CT-03), Jim Himes (D-CT-04), and Jahana Hayes (D-CT-05) joined their colleagues in filing an amicus brief with the D.C. Circuit Court of Appeals in a lawsuit brought forth after President Trump illegally fired staff at the Consumer Financial Protection Bureau (CFPB). The amicus brief condemns mass firings at the CFPB, reiterates that Congress created the CFPB to combat the abuses that caused the devastating 2008 financial crisis, and highlights that the President does not have the power to abolish it.
“Congress has been creating, restructuring, and eliminating executive offices, departments, and agencies since the Founding.  At the same time, because power over the basic structure of the federal government is Congress’s alone, the executive branch cannot unilaterally establish or abolish an executive agency,”the lawmakers wrote.
“The Administration’s actions, if allowed to occur, would not just be unconstitutional—they would also be disastrous.  As the Supreme Court has explained, eliminating the CFPB would ‘trigger a major regulatory disruption and would leave appreciable damage to Congress’s work in the consumer-finance arena,’”the lawmakers wrote.
The amicus brief was led by U.S. Representative Maxine Waters (D-CA-35) and U.S. Senators Dick Durbin (D-IL), Tammy Duckworth (D-IL), Chuck Schumer (D-NY), and Elizabeth Warren (D-MA). Former lawmakers Chris Dodd (D-CT) and Barney Frank (D-MA) also signed onto the amicus brief.
Since its inception, over 80,000 Connecticut residents have received more than $45 million from CFPB’sCivil Penalty Fund, which is used to help compensate harmed victims who would not otherwise receive compensation from the defendant in the case. Last year, Connecticut consumers also received compensation from the CFPB’slawsuits against Think Financefor deceiving consumers into repaying loans they did not owe, andLexington Law and CreditRepair.comfor subjecting consumers to illegal advance fees and deceptive advertising.
The amicus brief can be seenhere.
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