Bloomberg Law
Jan. 23, 2020, 8:41 PM

Killing the CFPB Would Harm States, Attorneys General Tell Court

Evan Weinberger
Evan Weinberger
Assistant Managing Editor

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 ...