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Killing the CFPB Would Harm States, Attorneys General Tell Court

Jan. 23, 2020, 8:41 PM

States’ ability to enforce financial laws would be severely hampered if the U.S. Supreme Court chooses to do away with the Consumer Financial Protection Bureau, Democratic state attorneys general said in a new filing.

A California debt collection law firm challenging a CFPB civil subpoena has asked the court to consider eliminating Title X of the Dodd-Frank Act, which created the CFPB, as a potential solution to alleged constitutional flaws in the bureau’s leadership structure.

Such a move also would eliminate provisions that allow state attorneys general to enforce federal consumer financial protection laws, according to an amicus brief brief...

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