BRADDOCK, PA – Pennsylvania U.S. Senator John Fetterman on Tuesday released the following statement on Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America, a case argued at the Supreme Court today that could gut the CFPB and benefit payday lenders and other deep-pocketed financial interests:
“Today, allies of payday lenders, debt collectors, and financial scammers who exist to rip off consumers are at the Supreme Court asking the right-wing majority to gut the Consumer Financial Protection Bureau (CFPB).
“The CFPB has helped protect hard-working Americans and Pennsylvanians from junk fees, financial scams, and other rip-offs. It exists to protect consumers, not the big banks and corporations that make their buck screwing over the American people. It makes sense that Wall Street and payday lenders are trying to gut it at the right-wing Supreme Court.
“These scammers are being propped up by the Koch brothers and some of the same jagoffs who have Justice Clarence Thomas in their back pocket. It’s disgraceful.
“Pennsylvanians need the CFPB. Congress must work to strengthen and expand consumer protections, and we can’t let the Supreme Court destroy them.”