Judge Kavanaugh has repeatedly shown extraordinary solicitude for corporate interests with little concern for or even awareness of the extensive harm that businesses can inflict on hardworking Americans. If confirmed, he is likely to side consistently with corporations over investors and consumers, and to rule against the regulatory agencies seeking to protect the American public from fraud, abuse, and predatory behavior in the financial industry.
The Supreme Court routinely rules on cases that impact the livelihoods of anyone with a paycheck, a savings account, a credit card, a mortgage, or a student loan – in short, every single American. A new report from Better Markets makes clear that Judge Kavanaugh’s judicial record in financial cases favors businesses over consumers, limits the ability of agencies to protect the public, and increases the power of the courts to judicially nullify rules and other agency actions.
JUDGE KAVANAUGH’S DECISIONS CONSISTENTLY FAVOR CORPORATIONS OVER CONSUMERS, INVESTORS, AND THE AGENCIES RESPONSIBLE FOR PROTECTING THE PUBLIC.
In his rulings and writings, Judge Kavanaugh has:
- Called the Consumer Financial Protection Bureau “a significant threat to individual liberty” and attempted to gut the agency by ruling that its structure was unconstitutional (a decision later overturned by the full D.C. Circuit);
- Narrowly interpreted the anti-fraud provisions of the securities laws and even faulted the Securities and Exchange Commission for aggressively pursuing lawbreakers;
- Undermined financial reform protections for Main Street;
- Made plain his desire to abolish the legal principle requiring courts to show deference to an agency’s interpretation of the law; and
- Supported the establishment of more legal obstacles that limit the ability of agencies to broadly protect the public interest through major rules.
CRITICALLY IMPORTANT SUPREME COURT CASES COMING THIS YEAR. The Supreme Court’s next term includes cases that will impact the financial well-being of every American. If confirmed, Judge Kavanaugh will be seated in time to rule on issues in ways that:
- Force more injured consumers into mandatory arbitration;
- Cut back the states’ role in protecting consumers;
- Eliminate anti-fraud protections for investors; and
- Limit the remedies available in class action litigation.
Anyone with a wallet should be very worried about Brett Kavanaugh joining the Supreme Court. His record of one-sided, pro-corporation, anti-consumer rulings will likely be the model for his decisions in upcoming cases that will affect every American.
The full report can be viewed below