PROVIDENCE, R.I. (Legal Newsline) — Rhode Island Attorney General Peter F. Kilmartin announced Jan. 23 that he would join a group of 17 other attorneys general in claiming the structure of the federal Consumer Financial Protection Bureau (CFPB) is constitutional.
general filed a motion to intervene in a case that sits before the U.S. Court of Appeals for the District of Columbia Circuit. In the case, a
divided court found the CFPB’s structure unconstitutional in an October ruling.
CFPB was created in the wake of the nation's housing and economic crisis to
serve as an independent watchdog to protect consumers from being ripped off or
duped and to keep Wall Street in check,” Kilmartin said.
“In its short history,
the CFPB has implemented smart policies that have significantly advanced
consumer protection. Because of its mission and success, it is no wonder why
the CFPB has come under fire by Wall Street and the incoming administration.
They are the only ones who have anything to gain from the dismantling of the
CFPB, and we cannot allow them to let it wither on the vine."
general joining Rhode Island in the motion are from Connecticut,
Delaware, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Mississippi,
New Mexico, New York, North Carolina, Oregon, Rhode Island, Vermont, Washington
and the District of Columbia.