October 03, 2023

Brown Issues Statement Ahead of Supreme Court Oral Arguments in Case that Threatens the Foundation of the CFPB

WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement ahead of Supreme Court oral arguments in the case of Consumers Financial Protection Bureau v. Community Financial Services Association of America, a case which threatens the foundation of the Consumer Financial Protection Bureau and other similarly independent funded agencies:

“We created the Consumer Financial Protection Bureau to give Americans a fighting chance against big banks, corporations, and predatory lenders. Wall Street and their lobbyists have been trying to kill the agency for 12 years, because the CFPB stands up to Wall Street and corporations and gives workers and consumers a fighting chance. No other agency fights for consumers – or stands up to corporate power – like the CFPB does,” said Brown. “That’s what’s at stake this week – the Supreme Court must rule in favor of consumers. Anything else would be disastrous for our economy.”