Today, Attorney General Aaron D. Ford joined a coalition of 23 attorneys general in an effort to keep the Consumer Financial Protection Bureau (CFPB) operational. The coalition is supporting federal employees who were instructed by the Trump administration and Elon Musk to halt their work on cases involving deceptive and abusive practices by companies. This marks the second amicus brief AG Ford has signed in support of the CFPB amidst attempts to dismantle it.
The coalition submitted an amicus brief in National Treasury Employees Union v. Russell Vought, backing CFPB workers who have played a role in returning over $20 billion to defrauded consumers, reducing junk fees, and halting predatory auto and mortgage lending practices. The CFPB is tasked with overseeing major financial institutions to ensure compliance with federal consumer protection laws.
"I will continue to fight to ensure the CFPB is not gutted and that Nevada consumers are protected from the worst actors in the financial industry,” stated AG Ford. “The effort to destroy the CFPB by the Trump administration and Elon Musk will directly harm Nevadans if allowed to continue, and I will fight to protect our state’s residents in any way I can.”
On February 9, directives from the Trump administration ordered the CFPB to cease all ongoing work and refrain from initiating new investigations. Established in 2011 following economic turmoil, the CFPB enforces federal consumer protection laws alongside state attorneys general addressing issues related to banking, student loans, mortgages, auto lending, among others.
The agency has aided millions of Americans by preventing foreclosures, curbing junk fees charged by banks, and returning substantial sums of money nationwide. It has also targeted predatory payday lenders—a significant concern for Nevadans where interest rates on payday loans are notably high.
In their brief, the coalition argues that dismantling efforts could hinder consumers' ability to report fraud or deception while significantly reducing oversight of large banks—potentially leading financial institutions towards lax regulatory compliance reminiscent of pre-crisis conditions.
Joining AG Ford are attorneys general from Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina Oregon Rhode Island Vermont Washington Wisconsin and Washington D.C.