Furthermore, the coalition highlighted the fact that certain provisions of Title X provide powerful tools to states to fight abusive, deceptive and unfair business practices.
In a statement, California Attorney General Xavier Becerra, said, “Seila Law is trying to burn the entire house to the ground The CFPB – and the Dodd-Frank Act as a whole – play a crucial role in protecting consumers and regulating the financial services industry.”
“Courts have already rejected Seila Law’s arguments twice. We believe the Supreme Court will and should affirm that this lynchpin of federal financial regulation is constitutional.” in its efforts to avoid complying with a CFPB investigation into its activities,” he added.
Becerra together with the AGs of New York, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia, Washington, Wisconsin, and the District of Columbia are part of the coalition defending CFPB’s constitutionality.
