Oct 16 2023
Undermining the Consumer Financial Protection Bureau Would Harm Americans’ Financial Security
Established in the aftermath of the 2008 Financial Crisis, the Consumer Financial Protection Bureau (CFPB) protects Americans from predatory financial services while fighting discrimination in the financial sector. In its first twelve years, the CFPB has been able to return or restore over $17.5 billion to American consumers in compensation, cancelled debts, and other relief, and has filed over 4 million complaints against companies on behalf of consumers.
Recently, the U.S. Supreme Court heard oral arguments in CFPB v. CFSA. The case challenges the constitutionality of the CFPB’s independent funding structure. If the current funding structure is found to be unconstitutional, American consumers will be more vulnerable to exploitative financial practices. Below are just a few examples of the work CFPB does to protect consumers and the economy.
Recently, the U.S. Supreme Court heard oral arguments in CFPB v. CFSA. The case challenges the constitutionality of the CFPB’s independent funding structure. If the current funding structure is found to be unconstitutional, American consumers will be more vulnerable to exploitative financial practices. Below are just a few examples of the work CFPB does to protect consumers and the economy.