Acting AG Davenport announced today that New Jersey is co-leading a motion on behalf of a coalition of states seeking, on an expedited basis, to stop the Trump Administration from defunding the Consumer Financial Protection Bureau (CFPB) before current funding expires at the end of March. The decision not to fund the CFPB, the motion explains, undermines the longstanding federal and state consumer protection efforts that are necessary to protect residents and their pocketbooks.  

“Our promise is clear: when officials in Washington issue unlawful policies that increase costs here in New Jersey, we will be there to protect our residents. The CFPB exists to ensure that federal and state agencies can protect consumers from threats like price gouging, and that work is needed now more than ever as New Jerseyans and the rest of the country struggle with an affordability crisis. Because the Federal Government is trying to unlawfully defund the CFPB, I’m proud to stand with my colleagues and lead the fight to prevent these illegal, cost-raising actions.” – Acting AG Davenport