Consumer Advocates Explain Crucial Public Interest in a Strong Consumer Financial Protection Bureau

Feb. 6, 2018

Consumer Advocates Explain Crucial Public Interest in a Strong Consumer Financial Protection Bureau

Agency’s Independence Is Necessary to Its Mission, Groups Tell Appellate Court

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 Public Citizen, Americans for Financial Reform, Center for Responsible Lending, Consumer Action, National Association of Consumer Advocates, National Consumer Law Center, National Consumers League, National Fair Housing Alliance, 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.

“The CFPB’s independence is critical for the agency to fulfill its mission of protecting consumers from banks that prey on them. That independence is now more important than ever, as Mick Mulvaney is trying to sabotage the CFPB and make it responsive to financial predators rather than their victims,” said Robert Weissman, president of Public Citizen.

The amicus brief is here.

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