Protect Borrowers joined a coalition of dozens of veterans and national, state, and local nonprofit groups in submitting an amicus brief to the U.S. Court of Appeals for the District of Columbia Circuit in NTEU v. Vought, a case challenging efforts by Acting Director Russell Vought and the Trump Administration to shutter the Consumer Financial Protection Bureau (CFPB).
The brief sounds the alarm that efforts to dismantle the CFPB amount to debt cancellation for large, powerful banks. By attempting to shut down the CFPB, the Administration would effectively erase consequences for financial institutions accused of cheating customers—while leaving ordinary people with nowhere to turn.
Read the Amicus Brief to the U.S. Court of Appeals for the District of Columbia Circuit here.
Read the Press Release: “Debt Cancellation for Big Banks?” Advocates Say Shuttering the Consumer Watchdog Lets Wall Street Off the Hook While Families Pay the Price