January 31, 2018

Cortez Masto: Today’s Court Decision to Uphold CFPB Independence is a Win for the Watchdog on Wall Street

Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.), member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the U.S. Court of Appeals for the District of Columbia Circuit upheld as constitutional key elements of Wall Street reform legislation that govern the organizational structure of the Consumer Financial Protection Bureau:

“Today’s decision affirmed the independence and constitutionality of America’s watchdog on Wall Street, the Consumer Bureau. Since its creation following the financial crisis, the Consumer Bureau has greatly expanded access to high quality loans, credit cards, student loans, and other financial products people need to buy a car or home, attend college, and manage their finances. Moving forward, the Trump Administration should quickly nominate a Director with bipartisan support so that the agency can continue doing what it was created to do: protect America’s consumers and safeguard our financial system.”