Attorney General Kris Mayes joined a group of 23 attorneys general on Apr. 17 in calling for the Consumer Financial Protection Bureau (CFPB) to reconsider its proposed strategic plan, which they say would significantly reduce staff and weaken enforcement of consumer protection laws.
The letter from Mayes and her colleagues warns that reducing the CFPB’s capacity could leave consumers more vulnerable to financial fraud and diminish relief efforts nationwide. The coalition argues that a strong federal watchdog is necessary to protect Americans from unfair practices in the financial sector.
“The CFPB was created because American consumers needed a watchdog in their corner, one dedicated to protecting them from financial fraud, predatory lending, and corporate abuse,” said Attorney General Mayes. “Gutting this agency harms consumers and shreds accountability. Arizona families deserve better than an administration that would rather dismantle the guardrails than enforce the rules to protect consumers.”
According to the letter addressed to Acting Director Russell Vought, proposals such as “realigning the organization” and eliminating roles labeled as non-essential would drastically shrink staffing levels required for oversight responsibilities. The attorneys general also expressed concern about plans that would minimize enforcement efforts at both federal and state levels.
Mayes highlighted that since its creation after the 2008 financial crisis, the CFPB has secured over $21 billion in relief for consumers through supervision and enforcement actions. She said current proposals threaten these achievements by reducing key teams within the bureau—such as cutting supervision staff from 72 people down to one—and abandoning billions of dollars previously sought on behalf of harmed consumers.
The Arizona Attorney General’s Office serves as Arizona’s chief legal office with statewide responsibilities for legal and protective services according to its official website. It addresses issues such as elder abuse, civil rights violations, unsolved crimes through its cold case unit according to its official website, participates in federal action lawsuits, supports fair housing initiatives, accountability measures for social media companies according to its official website, offers advocacy for residents according to its official website, delivers comprehensive legal services statewide according to its official website, and is led by Kris Mayes—the state’s first mother attorney general according to its official website.
Mayes was joined by attorneys general from states including California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina Oregon Vermont Virginia Washington Wisconsin as well as Washington D.C., all voicing opposition against weakening consumer protections at a time when nearly 40% of U.S. adults have reported experiencing some form of financial fraud or scam within a year.
