Attorney General Jay Jones Joins Litigation to Stop President Trump’s Defunding of the Consumer Financial Protection Bureau

Attorney General Jay Jones Joins Litigation to Stop President Trump’s Defunding of the Consumer Financial Protection Bureau

Richmond, VA – As part of National Consumer Protection Week, Attorney General Jay Jones announced he has joined a multistate complaint to stop the Trump Administration’s attempts to defund the Consumer Financial Protection Bureau (CFPB). Created after the housing crisis of 2008, the CFPB has ensured that consumer financial products and services are fair, transparent, and competitive.

To date, the CFPB has returned more than $21 billion that had been improperly taken from over 205 million Americans. In 2024, the CFPB received approximately 3.2 million consumer complaints, of which Virginians filed 63,229. In response to these complaints, businesses provided monetary relief totaling over $93.5 million to consumers nationwide, with nearly $2.6 million to Virginians.

“Defunding the CFPB is yet another attempt by the overzealous and chaotic Trump Administration to punish federal employees and eliminate crucial consumer protection resources that keep our communities safe,” Attorney General Jones said. “Without the CFPB, Virginians will be more vulnerable to consumer fraud and discriminatory lending practices, and less able to monitor consumer and homeowner trends in Virginia. Without the CFPB, it will be more difficult to pursue investigations into potential violations of State and federal consumer protection laws. My office will use every tool at its disposal to stop the dismantling of the CFPB and secure these resources for Virginians.”

In addition to supervisory, enforcement, and rulemaking authority, the CFPB maintains a consumer complaint response system, and shares that data with state agencies. The CFPB also administers and collects demographic and geographic lending data, which allow states and regulators to identify inequitable or discriminatory lending patterns. The CFPB helps facilitate cooperation between federal and state agencies so they can jointly address consumer protection concerns, resulting in efficiencies, cost savings, and improved outcomes for consumers.

Virginians who have a question, concern, or complaint about a consumer matter should contact Attorney General Jones’ Consumer Protection Section:

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