“Today, consumer and civil rights groups, leading legal scholars and members of Congress will submit amicus briefs to the U.S. Court of Appeals for the D.C. Circuit in the case of PHH Corporation v. CFPB in support of the Consumer Financial Protection Bureau. The diverse amici urge the full D.C. Circuit Court of Appeals to maintain a strong, independent agency to protect American consumers. …’In the five years since it opened its doors, the CFPB has worked tirelessly to enforce the laws that went ignored in the run-up to the 2008 financial crisis, and has done more than any other federal agency to empower consumers against predatory, deceptive, and outright fraudulent behavior by bad actors in the financial industry…,’ said Wade Henderson, president and CEO, The Leadership Conference on Civil and Human Rights.”
Judge Gorsuch’s stated views suggest his appointment would also help financial companies’ efforts to eliminate the rules necessary to protect the economy from another financial calamity induced by Wall Street’s recklessness
Jay Clayton’s performance in the SEC confirmation hearing makes it abundantly clear that after a career of helping Wall Street banks avoid accountability, he is uniquely ill-suited to the job of protecting investors and working people from Wall Street misconduct.
The public deserves to know whether Alexander Acosta stands for seniors, and everyone saving for retirement, or whether he sides with the worst elements of Wall Street
“‘Jay Clayton has spent his entire career serving Wall Street, representing Goldman Sachs and other big banks,’ says Americans for Financial Reform Executive Director Lisa Donner. ‘Americans need an SEC Chair who will stand up to those interests, not represent them.'”
Americans for Financial Reform, a broad coalition including civil rights groups, consumer advocates, community organizations, and labor unions, today called on the Trump administration to abandon its proposal to delay a planned rule that protects ordinary investors from unscrupulous financial advisers.
