For Immediate Release

People’s Action Institute Disappointed by Desperate Judicial Attack On CFPB’s Watchdog Authority

WASHINGTON - The U.S. Court of Appeals for the D.C. Circuit ruled today against the Consumer Financial Protection Bureau in a case brought by the mortgage company PHH Corp. Liz Ryan Murray, policy director for People’s Action Institute, issued the following statement in response:

“Today, the D.C. Circuit Court joined the assault on the CFPB that conservatives in Congress have been waging since the creation of the independent watchdog agency. This is another desperate attempt to undermine an agency that has returned billions of ill-gotten gains back to families. The CFPB is fulfilling their chartered mandate just a little too well for predatory lenders, shady bankers and abusive debt collectors. Congress needs to remember who they work for – and it’s not Wells Fargo.”

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People's Action Institute is a national research and policy organization working for economic, racial, gender and climate justice with more than a million volunteers in 29 states.

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