Justice Democrats

John,

The Consumer Financial Protection Bureau (CFPB) is a federal agency designed to act as a financial watchdog for consumers and hold corporations accountable.

Over the past 14 years of its existence, the agency has returned more than $17 BILLION back to consumers from predatory institutions, big banks, and other bad actors who ripped them off.

Of course, Elon Musk, Big Tech, and the Crypto Lobby want to stop that.

Last week, Musk tweeted, “CFPB RIP 🪦” and sent his DOGE goons into the agency, accessing its systems, shutting down its Twitter account, and sending its staff home. This happened just days before Musk revealed plans to launch a new payment system on X/Twitter that the CFPB would have regulated.

A headline from The Washington Post reading 'The CFPB took aim at Big Tech. Then Elon Musk moved to dismantle it. Days before Musk's DOGE effort set its sights on the Consumer Financial Protection Bureau, X revealed new plans to launh a payments system the agency might have scrutinized.'

It’s not just Musk who wants to kill the CFPB. Coinbase CEO and Fairshake (a Crypto Super PAC) megadonor Brian Armstrong is wrongly claiming the agency is unconstitutional, even though the Supreme Court said otherwise.

A screenshot of a post on X from Justice Democrats. It's reposting a post from Brian Armstrong reading '100% the right call. The CFPB is unconstitutional on the face of it. And even if it wasn’t, it should be deleted as we already have DOJ to prosecute fraud, and (many) other financial services regulators. It’s an activist organization that has done...'. The post has a community note attached reading '
Readers added context: The Supreme Court, ruled (7-2 decision) that the CFPB's funding mechanism does not violate the Constitution. Justice Thomas wrote the majority opinion, stating that the CFPB's funding fits w/in the framework of congressional appropriations.' Justice Democrats posted 'Brian is the CEO of Coinbase, which bankrolled Crypto Super PAC Fairshake with ~$150 million to spend on elections last cycle. Their reward? Ending the agency that's supposed to protect consumers from Wall Street grifters like them so they can keep making $ to buy politicians.

It’s completely obvious: billionaires like Musk, Big Tech, and the Crypto Lobby want to dismantle the agency responsible for regulating them and protecting consumers from them.

They dumped billions of dollars into last year’s elections to gain the power necessary to gut it — but Justice Democrats like Reps. Ilhan Omar, AOC, and Summer Lee are fighting back.

We need to elect more progressives from working-class backgrounds who will firmly reject contributions from Crypto and other Super PACs while fighting to protect consumers: pitch in $5 to help us recruit them this year →

Contribute $5

In solidarity,

Justice Democrats