Republicans have been complaining about the Consumer Financial Protection Bureau since it was created to assist consumers in their financial transactions after the Great Recession of 2008.
In an effort to support the bureau, consumers groups are intervening in the lawsuit PHH Corporation v. CFPB.
They’re concerned that the Trump Administration may not uphold the Dodd-Frank Act reforms that created the agency and led to the recovery of billions of consumer dollars.
"We are committed to protecting the CFPB's independence, which is essential to stopping Wall Street and predatory lenders from fleecing American consumers,” Lisa Donner, executive director of Americans for Financial Reform, said Thursday. “Director Cordray has been an effective and tireless leader of the CFPB and should serve his full five-year term without the threat of removal by Trump at the behest of industry lobbyists.”