New York Attorney General Eric Schneiderman, along with 15 other Democratic attorneys general, are petitioning the federal Consumer Financial Protection Bureau to keep up with investigations and not to weaken them.
Earlier this year, the CFPB asked businesses if and how the agency’s investigations burden companies. Liberals took this as a warning sign that the consumer watchdog will soon attempt to curtail its own power. Schneiderman and the other attorneys general wrote to the CFPB saying its subpoena powers are appropriate, and overseen by a judge.
Since President Trump appointed Republican Mick Mulvaney to head CFPB the agency has halted investigations into companies, weakened lending rules, and campaigned to reduce its authority.
But, the agency also brought a billion dollar fine against Wells Fargo for consumer abuses.
