Waters Applauds Court Decision Reaffirming the Independence of the Consumer Financial Protection Bureau
Washington, DC, January 31, 2018
Today, in response to a decision by the full U.S. Court of Appeals for the District of Colombia Circuit upholding the constitutionality of the structure of the Consumer Financial Protection Bureau (Consumer Bureau), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“Today, the full U.S. Court of Appeals for the District of Colombia Circuit confirmed what we have always known: the Consumer Bureau is constitutional and is here to stay. This is an important ruling for America’s consumers and should send a clear warning to predatory actors that despite the unlawful actions of the Trump Administration toward the Consumer Bureau, the courts can clearly and correctly interpret congressional intent. I am pleased that the Court followed established precedent and preserved the structure of the agency that Congress envisioned.
In 2017, Ranking Member Waters and 40 Democratic Members filed an amicus brief with the D.C. Circuit Court of Appeals in support of the Consumer Bureau’s independent structure and its constitutionality.