Illegally closing the agency will leave American consumers more vulnerable to scams and fraud
WASHINGTON – U.S. Senator John Hickenlooper, along with 44 of his Senate Democratic colleagues, filed an amicus brief in support of a lawsuit against the Trump administration’s illegal firings of Consumer Financial Protection Bureau (CFPB) workers. The senators emphasized that the administration does not have the authority to abolish the CFPB without congressional approval and that any effort to undermine the agency will hurt American consumers.
“When Congress establishes an agency, that agency is required by law to exist,” wrote the senators. “The Administration’s actions, if allowed to occur, would not just be unconstitutional – they would also be disastrous.”
The CFPB defends American consumers against predatory lending and unfair practices like junk fees. It has returned $20 billion to American consumers since its establishment in 2011.
On the Senate floor, Hickenlooper previously called out the Trump administration’s effort to gut the CFPB and leave Coloradans vulnerable to scams, junk fees, and high-cost loans. Hickenlooper serves as the Ranking Member of the Senate Commerce Committee’s Subcommittee on Consumer Protection, Product Safety and Data Security.
Full amicus brief is available HERE.
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