AG Pax­ton Joins Coali­tion Urg­ing CFPB to Restore States’ Author­i­ty to Pro­tect Consumers

Attorney General Ken Paxton today joined a 12-state coalition – led by Indiana and Arkansas – in support of a proposal by the Consumer Financial Protection Bureau (CFPB) to rescind a 2017 CFPB rule and replace it with a new one governing small, short-term loans. The existing rule ignores the states’ traditional role as the lead consumer protection authorities, and it harms consumers’ freedom to make decisions about the types of financial products that best serve them.