FOR IMMEDIATE RELEASE
May 19, 2023
CONTACT
Carter Dougherty
carter@ourfinancialsecurity.org
(202) 251-6700
A Wave of Pro-CFPB Amicus Briefs Demonstrate Overwhelming Support for the CFPB’s Constitutionality
Lawmakers, State AGsl, Constitutional Law Scholars, Consumer, Civil Rights, Veterans Groups, & More Urge the Supreme Court Overturn Fifth Circuit Ruling in CFPB v. CFSA
Washington, D.C. – Hundreds of public interest groups, lawmakers, constitutional law scholars and more filed amicus briefs with the Supreme Court this week in support of the Consumer Financial Protection Bureau (CFPB) in the case, CFPB v. CFSA, which the Supreme Court will review this fall.
The amici resoundingly denounced the recent unprecedented and radical decision by the Fifth Circuit Court of Appeals, which incorrectly characterizes the CFPB’s funding statute as a violation of the Appropriation Clause, disregarding the fact that the statute fully aligns with the clear command of this passage.
“The outpouring of support for the CFPB reflects the broad recognition of its crucial role in safeguarding consumers and ensuring financial stability,” said Elyse Hicks, consumer policy counsel at Americans for Financial Reform. “The amicus briefs demonstrate the unwavering commitment to upholding the integrity of the agency’s funding and protecting the interests of consumers.”
Federal expenditures for the CFPB were authorized by law through the Dodd-Frank Act, as many of the amicus briefs explained and the Second Circuit Court of Appeals recently confirmed.
- 144 current and former Members of Congress (Brief)
- 23 states and the District of Columbia (Brief)
- Consumer advocacy organizations (Brief)
- Civil rights organizations (Brief)
- Military and veterans organizations (Brief)
- 90 State and local non-profit organizations (Brief)
- Constitutional law and history professors (Brief)
- Farm, food, & rural economy organizations (Brief)
- Small financial/lending institutions (Brief)
- Financial regulation scholars (Brief)
- AARP (Brief)
- NTEU (Brief)
Housing and real estate industry associations (brief) also filed a brief warning of the risks to the stability of the mortgage and real estate markets should the Supreme Court fail to overturn the Fifth Circuit’s ruling.
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