WASHINGTON — Congressional Progressive Caucus Chair Pramila Jayapal (WA-07) released the following statement regarding the Supreme Court’s rejection of a major challenge to the authority of the Consumer Financial Protection Bureau (CFPB):
“The CFPB has put $20 billion back into consumers' pockets since its founding 12 years ago. That work has only been possible because of the nature of the agency's independent funding, as Congress intended. This spurious challenge should not have even been entertained, and now, even this hard-right Supreme Court recognizes that this funding mechanism is wholly constitutional.
“By protecting Americans from junk fees, medical debt, payday lenders, and more, the CFPB has proven to be an effective and critical watchdog agency. From its founding as an idea of now-Senator Elizabeth Warren, to the incredible leadership of Rohit Chopra, the CFPB has become vital to consumer protection. The CPC has been proud to work closely with the CFPB to advocate for and implement many of these policies, and we look forward to continuing that work now that this frivolous challenge has been rightfully blocked.”
