Golden State Today

California Attorney General Rob Bonta issued a statement in response to the Supreme Court's decision to uphold the Consumer Financial Protection Bureau’s (CFPB) funding structure as constitutional. The ruling also protected the CFPB's past and ongoing regulatory actions in the case of Consumer Financial Protection Bureau v. Community Financial Services Association of America (CFSA).

"Today’s decision reaffirms the absolutely critical role CFPB has in advancing consumer protection and regulating the financial services industry. The CFPB has been an invaluable enforcement partner to California, working to protect consumers from fraud, abuse, and unfair business practices — and has returned a staggering $17.5 billion to Americans since its creation," said Attorney General Bonta. "My office will continue to use all legal tools at our disposal to robustly enforce California’s consumer protection laws. We look forward to continued collaboration with the CFPB."

Attorney General Bonta has consistently supported the CFPB throughout the legal process. In May 2023, he joined a coalition of 24 attorneys general in filing an amicus brief that backed the CFPB's assertion that its funding structure is constitutional. They argued that even if the court determined otherwise, it should not invalidate the agency's past and ongoing regulatory and enforcement actions. Following this, in October 2023, Attorney General Bonta issued a statement when the Supreme Court heard oral arguments in this case.