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#CFPB

14 messages9 participants0 message aujourd’hui
Public *
Kim Perales

"The agency that Congress created after the last FIN crisis to help prevent another FIN crisis is🚨currently completely handcuffed from working *at verge of another major FIN crisis -it’s terrifying.

The one thing we were created to do we can’t do -at a time when we’re most needed -I think the goal is to try & close the agency before Vought’s time is up as acting dir-."

Trump officials tried to axe ~1,500 of the #CFPB’s 1,700 WKRs last mo *blocked by a fed judge.
#USPol
theguardian.com/us-news/2025/m

The Guardian · Workers at top US consumer watchdog sound warning as Trump bids to gut agencyPar Michael Sainato
Public
⚯ Michel de Cryptadamus ⚯

#Coinbase saved on payroll by underpaying for work outsourced to India so that its customers could get defrauded of at least a few hundred million dollars *already*. They (the customers) will no doubt now be stalked for years by cybercriminals who have their passport, home address, and bank information.

#ThatsSoCrypto, but also this is why Coinbase donated so much money to get Donald Trump elected so #DOGE could, in Elon's immortal turn of phrase, "delete #CFPB" (meaning destroy the Consumer Financial Protection Bureau who were helping customers deal with their complaints about Coinbase).

@GivnerAriel What am | supposed to tell my clients? People are terrified. | got their permission to share. | have received this from numerous scared individuals. Cc @coinbase @brian_armstrong Hey Ariel, | was notified this morning that | was in the 1% of the Coinbase data. It is my on and off ramp, my license, my home address, bank info, amongst other things were leaked. I'm afraid that | or my kids will become a target. Is there anything | can do here?
#crime#crypto#fraud
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Nonilex

From Reuters:

Appeals judges prod #Trump admin, #union over #CFPB wind-down

Federal appeals court judges in Washington wrestled Friday with the extent to which they could instruct the Trump admin to operate the government's consumer finance watchdog agency, which the White House this year has sought to decimate if not shut down entirely.

reuters.com/sustainability/boa

#law#RussVought#Constitution
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Nonilex

“As the govt conceded at oral argument…, the President cannot unilaterally shut down the #CFPB w/o violating the #Constitution. Citing CAC’s brief on behalf on current & fmr Members of #Congress, counsel for plaintiffs underscored that the power to create, restructure, & eliminate #FederalAgencies is Congress’s power alone, & the President’s efforts to shutter the CFPB unlawfully intrude on Congress’s Article I powers & violate the Constitution’s bedrock principle of #SeparationOfPowers.

#law
Public
Nonilex

Following oral argument at the US Court of Appeals for DC this afternoon in National #Treasury Employees #Union v. #RussVought, a case in which the court is considering whether the #Trump admin’s efforts to unilaterally shut down the Consumer Financial Protection Bureau (#CFPB) are constitutional, Constitutional Accountability Center Equal Justice Works Fellow Anna Jessurun issued this:

#law #Constitution #SeparationOfPowers #CoEqualBranchesOfGovernment #Congress
theusconstitution.org/news/cac

Constitutional Accountability CenterCAC Release: At the D.C. Circuit, Everyone Agrees that the Constitution Does Not Permit the President to Unilaterally Shutter the CFPB | Constitutional Accountability CenterWASHINGTON, DC – Following oral argument at the U.S. Court of Appeals for the District of Columbia this afternoon in National Treasury Employees Union v. Vought, a case in which the court is considering whether the Trump administration’s efforts to unilaterally shut down the Consumer Financial Protection Bureau (CFPB) are constitutional, Constitutional Accountability Center Equal […]
Public
Kim Perales

“Vought is undoing years of painstaking, bipartisan work in order to prop up #data brokers’ predatory, & profitable, #surveillance of Americans” -S Vitka, exec dir of Demand Progress -nonprofit that supported the rule.

“By withdrawing the CFPB’s data broker rulemaking, the🚨Trump admin is ensuring that Americans will continue to be bombarded by scam texts, calls & emails, & that MIL members & their families can be targeted by spies & blackmailers.”
#CFPB #Sabotage #USPol
wired.com/story/cfpb-quietly-k

WIRED · CFPB Quietly Kills Rule to Shield Americans From Data BrokersPar Dell Cameron
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Nonilex

The #CFPB quietly withdrew the proposal on Tues morning, issuing a notice published in the Federal Register declaring the rule no longer “necessary or appropriate.”

CFBP received >600 comments from the public this year concerning the proposal, titled “Protecting Americans from Harmful #DataBroker Practices.”

#Trump#law#InfoSec
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Nonilex

The #CFPB has cancelled plans to introduce new rules designed to limit the ability of
#DataBrokers to sell sensitive #information about Americans, including #financial data, #credit history, & #SocialSecurity numbers [#SSN].
CFPB proposed the new rule in early December under #Biden’s fmr director Rohit Chopra, who said the changes were necessary to combat commercial #surveillance practices that “threaten our personal #safety & undermine America’s #NationalSecurity.”
#Trump #law #InfoSec #privacy

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Nonilex

Other club owners, besides #DonaldTrumpJr, include Zach & Alex #Witkoff — the sons of #Trump’s #MiddleEast envoy #SteveWitkoff — & #OmeedMalik, who leads #1789Capital, a Florida-based #VC firm that recently *hired* Donald Trump Jr as a snr exec. The investments for 1789 Capital have included companies such as #Plaid, a #DigitalFinance firm that had lobbied the #CFPB related to a new set of banking rules—until Trump’s team effectively shut down the agency & stalled enforcement of the #regulation.

Public
KProfsBlog

With an assist from @lawdorknews.bsky.social, I have updated my post from Wednesday about challenges to Russel Vought’s attempt to dismiss up to 90% of the CFPB’s employees. D.C. Circuit upholds the District Court’s stay on the action, with former White House counsel during Trump 1.0 joining the majority.

#law #contracts #CFPB #litigation #injunctions #DCCircuit

lawprofessors.typepad.com/cont

D.C. Circuit Judge Gregory Katsas, formerly White House counsel during Trump 1.0, now liberal squish
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