FOR IMMEDIATE RELEASE: Aug. 15, 2025
CONTACT: Jarice Thompson, jarice@ourfinancialsecurity.org
Appeal’s Court Ruling Sides With Administration on Destructive Dismantling of Critical Consumer Protection Agency
Washington, D.C.- A panel of the US Court of appeals today overturned an earlier court order halting mass layoffs at the Consumer Financial Protection Bureau(CFPB). The 2-1 split decision gives the Trump administration and Acting Director Russ Vought a green light to continue their crusade to dismantle the CFPB. The decision is stayed for 7 days however, a petition for review by the full court is expected.
“At a time when rising costs are impacting people’s ability to secure housing, food, and other basic needs, an effective CFPB stopping rip offs and junk fees and making lawbreaking financial companies pay people back money they have taken wrongfully is more important than ever,” said Kimberly Fountain, field manager of Consumer Financial Justice at Americans for Financial Reform. “Gutting the agency responsible for holding predatory financial companies accountable – as Trump and Vaught are trying repeatedly to do – will only make it easier for Wall Street and big banks to take advantage of people without consequences.” These efforts have already cost the public $18 billion.
This terrible decision aids the project of destruction. However, as Judge Pillard said in her dissent “The notion that courts are powerless to prevent the President from abolishing the agencies of the federal government that he was elected to lead cannot be reconciled with either the constitutional separation of powers of our nation’s commitment to a government of laws.”
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