New Jersey Attorney General Matthew J. Platkin has co-led a coalition of 23 Attorneys General in filing an amicus brief to oppose the Trump Administration's efforts to dismantle the Consumer Financial Protection Bureau (CFPB). The coalition aims to protect consumers and prevent what they describe as unlawful actions against the agency.
Attorney General Platkin stated, "The Consumer Financial Protection Bureau has successfully prevented corporations from taking advantage of our residents and has returned billions of dollars into the pockets of Americans. President Trump’s attempts to gut this critical watchdog agency are as reckless as they are illegal." He further criticized the administration for prioritizing wealthy interests over consumer protections.
The coalition filed the amicus brief in support of plaintiffs in National Treasury Employees Union v. Vought, a case challenging the dismantling of the CFPB. A preliminary injunction issued on March 28, 2025, by a district court halted Acting CFPB Director Russell Vought's efforts to dismantle the bureau. This injunction prohibited mass layoffs and required reinstatement of employees laid off during these efforts.
The Trump Administration has appealed this injunction, with a decision pending from the United States Court of Appeals for the District of Columbia. The outcome could significantly impact consumers nationwide if the CFPB continues its dismantling process.
The amicus brief argues that dismantling the CFPB would harm states and their residents by preventing consumers from reporting fraud or deception issues. It also warns that without CFPB oversight, financial institutions might evade regulatory obligations, potentially leading to increased risks similar to those preceding past financial crises.
Joining Attorney General Platkin in this effort are attorneys general from New York, the District of Columbia, Arizona, California, Colorado, Connecticut, Delaware, Hawai‘i, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, Washington, and Wisconsin.
