REFinBlog

Editor: David Reiss
Cornell Law School

April 29, 2025

Defend the Consumer Financial Protection Bureau

By David Reiss

Lionel Barrymore as Mr. Potter in Capra's Its a Wonderful Life

I signed on to this important letter, along with hundreds of others:

349 Consumer, Civil Rights, Labor, Legal Services and Community Organizations

April 29, 2025

U.S. House of Representatives

Washington, DC

Re: Support the Consumer Financial Protection Bureau

Dear Representative,

The 349 undersigned consumer, civil rights, labor, legal services and community organizations and academics write to urge you to demand action to restore a strong and independent Consumer Financial Protection Bureau (CFPB). We further urge you to oppose changes to the CFPB’s funding, structure or other changes that would weaken its ability to stand up for consumers, competition and a fair financial marketplace.

The CFPB, created after the devastating 2008 financial crisis, has worked to protect consumers and responsible industry players alike. The CFPB has obtained over $21 billion in relief for over 200 million people, including $363 million for servicemembers and veterans, and its consumer protection mission continues to be overwhelmingly supported on a bipartisan basis. The CFPB has worked to support a healthy, sustainable housing market, improve credit reports, crack down on junk fees, reduce the burdens of medical and student debt, fight lending discrimination, and promote safe banking practices and banking competition. Now more than ever, we need a strong CFPB that will continue to keep our personal financial data safe, protect our privacy, and fight fraud.

Congress created the CFPB, and Congress must support ordinary people and fair competition by standing up for a strong and independent CFPB.

Yours very truly,

The full list of signatories can be found at the link here.

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