NTEU v. Vought
What’s at Stake
We filed an amicus brief on behalf of all Democrats on the Senate Banking Committee and the House Financial Services Committee—the committees that oversee the Consumer Financial Protection Bureau (CFPB)—and urged the full U.S. Court of Appeals for the D.C. Circuit to rehear a case challenging the Trump Administration’s attacks on the Bureau.
Summary
The Consumer Financial Protection Bureau (CFPB) was established by Congress in response to the 2008 financial crisis and is tasked with overseeing financial institutions and protecting consumers from predatory practices. Since its inception, the agency has recovered billions of dollars for U.S. citizens and helped create a fairer, more transparent financial marketplace. Congress exercised its constitutional authority to regulate commerce when it created the CFPB, ensuring that it operates independently to fulfill its mandate. In defiance of Congress’s role, President Trump declared his intent to “totally eliminate” the CFPB, and Acting Director Vought and the agency acting quickly to carry out that instruction. Their actions have caused mass confusion and imposed significant and irreparable harm on consumers across the country. Plaintiffs National Treasury Employees Union, National Consumer Law Center, NAACP, Virginia Poverty Law Center, CFPB Employee Association, and Pastor Eva Steege sued to challenge Vought’s actions and preserve the CFPB.
Core Legal Problem
Our amicus brief advocates for the continued existence of the CFPB. As the brief makes clear, “Shuttering the CFPB would not just run afoul of the Constitution, it would also destroy the framework Congress created to safeguard the finances of American consumers.” The brief (1) describes Congress’s lawful exercise of its constitutional authority to create the CFPB; (2) explains that only Congress can close the CFPB; and (3) argues that shuttering the CFPB will leave consumers unprotected, financial institutions unregulated, and create conditions for a new financial crisis.