Let’s not lose sight of the bigger picture: after years of industry attacks and GOP opposition, a conservative Supreme Court recognized what we all knew: the @CFPB itself and the law that created it is constitutional. The CFPB is here to stay.
Now, the Supreme Court should not have ignored the intent of Congress and allowed the President to remove the @CFPB director without cause. They just handed over more power to Wall Street's army of lawyers and lobbyists to push out a director who fights for the American people.
Even after today’s ruling, the @CFPB is still an independent agency. The director of that agency still works for the American people. Not Donald Trump. Not Congress. Not the banking industry. Nothing in the Supreme Court ruling changes that.
The @CFPB's job is to get the tricks & traps out of credit cards, mortgages, student loans, & other financial products & hold big banks accountable when they cheat people. Under @RichCordray’s leadership, the agency returned $12B to consumers scammed by financial institutions.
Trump’s @CFPBDirector Kathy Kraninger gutted the fair lending office and stopped filing lawsuits when companies cheat consumers. Now that the Supreme Court has reaffirmed the @CFPB's existence, Kraninger should stop working for the crooks and start working for working families.
