On Friday afternoon, a federal judge ruled that the Trump administration cannot shut down the Consumer Financial Protection Bureau — and must undo the actions already taken to dismantle it — while the case proceeds.
Here are a few things the judge said in her 112-page ruling (when she says “plaintiffs” she is talking about our side):
Trump officials were “fully engaged in a hurried effort to dismantle and disable the agency entirely ... in complete disregard for the decision Congress made 15 years ago, which was spurred by the devastating financial crisis of 2008 and embodied in the United States Code, that the agency must exist and that it must perform specific functions to protect the borrowing public.”
“Before it can step in, the Court must conclude that the plaintiffs are likely to succeed on their claims, that they would suffer irreparable harm in the meantime if the Court lets the lawsuit run its course, and that an injunction would be in the public interest. The Court has made those findings, and the answer is an overwhelming yes: the Court can and must act.”
“The elimination of the agency was interrupted only because plaintiffs sought and obtained the Court’s intervention on the day the overwhelming majority of the employees were going to be fired.”
The administration’s “contention they were intent on doing what the law required them to do collapsed like a balloon at the end of the Macy’s Thanksgiving Day Parade.”
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