Story perspectives

AGs Unite to Protect CFPB from Trump Administration's Threat

2/22/2025

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Summary

Story summary

Attorney General Andrea Campbell has teamed up with more than 20 state attorneys general to fight against the Trump administration's move to shut down the Consumer Financial Protection Bureau (CFPB). This coalition warns that dismantling the CFPB jeopardizes vital consumer protections and undermines oversight of major banks, putting financial stability at risk.

History

Historical Context

Attorney General Andrea Campbell's coalition of over 20 state attorneys general reflects a historical trend of state-level resistance against federal policy changes. In 2010, the establishment of the Consumer Financial Protection Bureau arose from the 2008 financial crisis, aimed at protecting consumers. Previous efforts to dismantle federal oversight, like during the Reagan era, similarly sparked state-led initiatives to safeguard consumer rights and financial stability.

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Story summary

Attorney General Andrea Campbell has teamed up with more than 20 state attorneys general to fight against the Trump administration's move to shut down the Consumer Financial Protection Bureau (CFPB). This coalition warns that dismantling the CFPB jeopardizes vital consumer protections and undermines oversight of major banks, putting financial stability at risk.

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