Attorney General Raoul Joins Coalition To Defend Consumer Financial Protection Bureau
CHICAGO - Attorney General Kwame Raoul today joined a coalition of 23 attorneys general to defend the Consumer Financial Protection Bureau (CFPB) against efforts by the Trump administration and Elon Musk to defund and disband it. The CFPB is an independent agency that oversees big banks, lenders, credit card companies and mortgage servicers, and ensures companies follow federal consumer protection laws. Raoul and the coalition argue in their amicus brief filed in the U.S. District Court for the District of Maryland that dismantling the CFPB would significantly harm consumers and hamper enforcement of federal consumer protection laws. “Since its creation, the Consumer Financial Protection Bureau has assisted millions of Americans by helping homeowners facing foreclosure stay in their homes, stopping banks from charging junk fees and returning more than $20 billion to consumers nationwide,” Raoul said. “The CFPB expanded upon the work of states and federal partners