NAACP Celebrates Win in Lawsuit to Preserve the Consumer Financial Protection Bureau (CFPB)

FOR IMMEDIATE RELEASE

March 28, 2025
Contact: Dominic Hawkins, communications@naacpnet.org 

WASHINGTON - Last month, the NAACP filed a lawsuit to stop the White House from dismantling the Consumer Financial Protection Bureau (CFPB) by firing the employees that make its work possible. Today, a judge granted a motion in favor of the NAACP's lawsuit, and ruled to preserve the CFPB and its employees. 

NAACP President and CEO Derrick Johnson released the following statement:

"We're pleased that the courts agreed with our motion to preserve the CFPB and its employees so it can continue to protect consumers from financial practices that rob Americans of their hard-earned money. This is what it looks like when democracy works. Our government is built on a system of checks and balances to make sure that no one – not even the president of the United States – is above the law. But the fight for American values isn't over yet. Right now, an unelected billionaire is actively working to drain our country of as much money and resources as possible just to make the rich richer. But we'll continue to fight, and we'll continue to win on behalf of Black Americans."

The CFPB is charged with overseeing and regulating financial institutions across the country as well as assisting consumers impacted by institutional bias and harm, an issue that disproportionately impacts Black, elderly, and other vulnerable consumer groups. 

"This is a win for the American people," added Keisha D. Bross, NAACP Director of Opportunity, Race, and Justice. "Since 2008, the Bureau has secured billions of dollars in relief for nearly 200 million consumers through its enforcement actions. Because of that, seedy corporations and the politicians in their pockets have been working hard to dismantle it so they can go back to defrauding customers out of millions of dollars. Nevertheless, we stand firm in our commitment to support the CFPB and keep this administration accountable." 

To learn more about how the NAACP advocates for an inclusive economy, visit our website. 

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About NAACP

The NAACP advocates, agitates, and litigates for the civil rights due to Black America. Our legacy is built on the foundation of grassroots activism by the biggest civil rights pioneers of the 20th century and is sustained by 21st century activists. From classrooms and courtrooms to city halls and Congress, our network of members across the country works to secure the social and political power that will end race-based discrimination. That work is rooted in racial equity, civic engagement, and supportive policies and institutions for all marginalized people. We are committed to a world without racism where Black people enjoy equitable opportunities in thriving communities.

NOTE: The Legal Defense Fund – also referred to as the NAACP-LDF - was founded in 1940 as a part of the NAACP, but now operates as a completely separate entity.