Democratic Women’s Caucus Chair Joins House Democrats to Defend Consumers; Calls Attention to CFPB’s Protection of Families

WASHINGTON, D.C. —Today, Friday February 28, Democratic Women’s Caucus Chair Teresa Leger Fernández (NM-03) joined an amicus brief led by Ranking Member of the House Financial Services Committee Maxine Waters (CA-43) in conjunction with House Democratic Leader Hakeem Jeffries (NY-08), Assistant Leader Joe Neguse (CO-02), Ranking Member of the Judiciary Committee Jamie Raskin (MD-08), and the Litigation and Rapid Response Task Force, and joined by 203 House Democrats. The amicus brief defends American consumers and the Consumer Financial Protection Bureau (CFPB) in the matter of National Treasury Employees Union (NTEU), et al. v. CFPB Acting Director Russell Vought, et al. before the U.S. District Court for the District of Columbia. In the case, the National Treasury Employees Union (NTEU) sued Trump administration officials for the unlawful dismantling of the CFPB.

The CFPB is the only federal agency dedicated solely to protecting hardworking American families in the financial marketplace. Since it opened following the 2008 crisis, the CFPB has worked to provide support to women and families through the Victims Relief Fund, promote small business lending transparency, curb excessive overdraft fees, and prevent medical debt from ruining Americans’ credit.

As the House leaders described in their amicus brief, President Trump has already imposed significant and irreparable harm on consumers across the country. In seeking to “shut down” CFPB, President Trump wants to eliminate the agency that protects women and families from unfair, deceptive, and abusive corporate practices, giving even more power to his corrupt billionaire friends serving as top advisors.  

Chair Teresa Leger Fernández (NM-03) released the following statement:

“The CFPB was born out of the 2008 financial crisis, a crisis that occurred on Republicans’ watch that brought great suffering to women, families and businesses. Since then, it has provided billions of dollars in relief for women and families across the country amidst a financial system that was designed for wealthy men to succeed. In our country, women couldn’t apply for a loan or a credit card without a man until 1974. Today, we still experience challenges including a significant pay gap and expensive care for our children, parents, and grandparents. Without the protections from the CFPB, it would be harder for women and families to achieve economic security. This is yet another example of Trump and his administration standing with billionaires and large corporations over women and families. We won’t stand for it.” 

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