The U.S. Senate Committee on Banking, Housing and Urban Affairs minority announced that Senator Elizabeth Warren, Senate Democratic Leader Chuck Schumer, and Representative Maxine Waters led nearly 200 members of Congress in filing an amicus brief challenging the Trump Administration’s attempts to dismantle the Consumer Financial Protection Bureau (CFPB). The committee minority also published a staff report estimating the attack on the CFPB has cost Americans up to USD 19 billion over the past year. Filed ahead of a full U.S. Court of Appeals for the D.C. Circuit hearing later this month, the brief argues the administration has moved beyond routine policy shifts to effectively shuttering the CFPB, referencing stop-work orders and an attempted mass firing of CFPB staff. It cites actions including firing probationary and term-limited employees without cause, cutting off funding, terminating contracts, closing offices, and implementing a reduction in force covering remaining employees.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-09
U.S. Senate Committee on Banking, Housing and Urban Affairs minority backs amicus brief challenging efforts to dismantle the CFPB and estimates up to USD 19 billion consumer cost
Senator Elizabeth Warren, Senate Democratic Leader Chuck Schumer, and Representative Maxine Waters, with nearly 200 Congress members, filed an amicus brief opposing the Trump Administration's efforts to dismantle the Consumer Financial Protection Bureau (CFPB), claiming it has cost Americans up to 19 billion USD. The brief, submitted before a U.S. Court of Appeals for the D.C. Circuit hearing, argues that actions like stop-work orders and mass firings effectively shutter the CFPB.