New York Attorney General Letitia James, known for her staunch opposition to former President Trump, has recently allied with 23 other state attorneys general to file an amicus brief.
This legal document supports a lawsuit aimed at preventing the Trump administration from dismantling the Consumer Financial Protection Bureau (CFPB).
According to RedState, James, along with Connecticut Attorney General William Tong, were among the 23 attorneys general who filed the brief in the U.S. District Court in Maryland. Their argument against the Trump Administration and tech mogul Elon Musk's efforts to dismantle the CFPB was outlined in the brief. The coalition, co-led by James, contended that the dissolution of the CFPB would negatively impact consumers and hinder the enforcement of federal consumer protection laws.
The brief was submitted in support of a lawsuit initiated by the mayor and the City of Baltimore, aiming to preserve the CFPB. James' stance on the issue echoes the sentiments of progressive Senator Bernie Sanders.
"Eliminating the CFPB will hurt everyday people and benefit billionaires like Elon Musk and his friends," James stated. "The only reason to get rid of this watchdog agency is to protect bad actors. Working families need the CFPB, especially as rising prices are making it hard to make ends meet and put food on the table. My office is leading this coalition to help protect the agency that has protected all of us."
It's worth noting that the United States functioned without the CFPB until its establishment in 2011. The bureau, which lacks constitutional authorization, has a history of arbitrary decisions. Tech entrepreneur Marc Andreesen, in a conversation with Joe Rogan shortly after Trump's re-election, discussed some of the CFPB's actions.
Andreesen gave examples of the bureau's actions, stating, "Like they did to Kanye, my partner Ben's father has been debanked. We had an employee. For having the wrong politics, for saying unacceptable things. Under current banking regulations... Okay, here's a great thing. Under current banking regulations, after all the reforms of the last 20 years, there's now a category called a politically exposed person, PEP. If you are a PEP, you are required by financial regulators to kick them out of your bank. You're not allowed to have them."
The CFPB, a creation of left-leaning Senator Elizabeth Warren (D-MA), operates largely independently, evading significant control from either the executive or legislative branches. The only exception would be if Congress completely defunds it. As the chief executive, President Trump should have the authority to remove federal employees from their positions and thereby nullify the CFPB. However, this lawsuit has temporarily halted such efforts.
James' involvement in this effort is not surprising, given her previous attempts to challenge the former president. As this case unfolds, we will continue to monitor and provide updates on any significant developments.
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