Politico…
Twenty-one state and district attorneys general filed a lawsuit against Office of Management and Budget Director Russell Vought on Monday, opposing his moves to shutter the Consumer Financial Protection Bureau.
Vought, who is also serving as acting director of the CFPB, has been trying to dismantle the consumer watchdog since February. His efforts — including attempts to fire 90 percent of the agency’s staff — have been put on hold by a district court ruling. Vought has also argued in court that it would be illegal for him to request funding from the Federal Reserve, the CFPB’s main source of funding, when the U.S. central bank is not running a profit. The bureau is expected to run out of funds sometime in the next month.
The lawsuit, filed in the federal district court of Oregon, argues that Vought’s refusal to request funding is unlawful. It also alleges that Vought’s efforts to shutter the agency clash with the CFPB’s statutory duty to cooperate with states to respond to consumers’ issues. The CFPB maintains a database of consumer complaints, and it coordinates with state and district attorneys general to take enforcement actions against financial institutions found in violation of its rules. In 2024, the database led to $93 million in restitutions for consumers, according to the bureau.
“My office and attorneys general across the country rely on the CFPB for consumer complaints and other data to get justice for consumers,” said New York Attorney General Letitia James, one of the state attorneys general that brought the suit. “The administration’s actions are a handout to those who drive up costs by cheating hardworking Americans.”…
Amusing too in that MAGA often claims to be anti Big business and CFSB is one of the few tools ,although a rather small one ,that exercises any control over depredations by underhanded business activities.
So their hero, Trump, is trying to close it down through one of his stooges.Vought ,of course, was a well known Republican ,long before the advent of Trump..
And MAGA?
Illogically they are cheering it on.
They believe in nothing except for some weird nihilistic gobbledygook that reveals nothing so much as their hate and stupidity.
One must remember that the Consumer Finance Protection Bureau, besides upsetting selfish corporations, is (like Obamacare) tainted with Original Sin at birth, since it was first proposed by (shudder!) Pocohontas (whom we all know as Elizabeth Warren) before she was elected U.S. Senator from Massachusetts.
So the CFPB bears the Mark of Cain.
True THAT ON CFPB……..