The Republican Attorneys General Association fought to help a Supreme Court case against the Consumer Finance Protection Bureau.
by Akela Lacy, The Intercept
The Supreme Court is set to rule this term in a case that could lead to the elimination of the Consumer Financial Protection Bureau. A federal agency tasked with protecting consumers from predatory lending and banking practices, the CFPB is being sued by two trade groups representing industries it regulates: The groups filed their suit in 2018 over a rule aimed at protecting borrowers from payday lenders.
The case is the latest step in a yearslong conservative fight to dismantle the CFPB. At least 13 states, including red states like Arkansas and Georgia, have limited or made payday lending illegal, and others have passed recent ballot initiatives to crack down on the industry.
Despite widespread approval among Republican voters to regulate or prohibit payday lending, Republican officials in more than 20 states are backing industry groups in the suit. All but two of the 28 members of the Republican Attorneys General Association, or RAGA, sought to intervene in the case. The move came after payday lending and banking industry groups regulated and fined by the CFPB poured out millions of dollars in campaign contributions, according to an analysis of the donations set to be published Wednesday by the watchdog group Accountable.US.
Recent Posts
Minneapolis: Organizing for the Protection of the Community
Take Action Now In speaking with residents in several parts of Minneapolis, beautiful stories of organizing on a block-by-block level emergedBy…
U.S. Sent a Rescue Plane For Boat Strike Survivors. It Took 45 Hours To Arrive.
Take Action Now In seas that could kill a person within an hour, it took nearly two days for a rescue plane to arrive.By Tomi McCluskey and Nick…
“Keep Hope Alive”: Remembering Rev. Jesse Jackson, Civil Rights Icon Who Twice Ran For President
Take Action Now “Our father was a servant leader — not only to our family, but to the oppressed, the voiceless, and the overlooked around the…
The Iranian Trap: Neither Military Action Nor Nuclear Negotiations Can Solve Trump’s (and Israel’s) Conundrum
Take Action Now After a failed regime-change strategy and an increasingly risky military buildup, the Trump administration turns back to nuclear…