Government agrees not to unilaterally defund CFPB until case is heard in challenge brought by City of Baltimore and Economic Action Maryland Fund

Washington, DC — Today, the Trump administration agreed not to unilaterally defund the Consumer Financial Protection Bureau until a case is heard in challenge brought by the City of Baltimore and Economic Action Maryland Fund. The legal challenge was filed last night by Democracy Forward, asking the court to stop Russ Vought from transferring the Consumer Financial Protection Bureau’s funds to the Federal Reserve. 

“Economic Action Maryland Fund is thrilled to have temporarily halted the Administration’s attempt to defund and defang the CFPB whose mandate is to protect consumers from predatory financial products & services. This is a win for consumers across the country!” said Marceline White, Executive Director of Economic Action Maryland Fund (Economic Action). 

“The Consumer Financial Protection Bureau protects all Americans from predatory and discriminatory practices. It has returned $20 billion back to the American public, yet again, it is unfortunate we have had to resort to litigation to protect this consumer watchdog,” said Democracy Forward President & CEO Skye Perryman. “We are pleased the government has agreed to keep its hands off the Bureau’s funding until the court can hear this case.” 

Read the original complaint here. 

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Democracy Forward is a national legal organization that advances democracy and social progress through litigation, policy, public education, and regulatory engagement. For more information, please visit www.democracyforward.org.