WASHINGTON, D.C.—Dennis Kelleher, Co-Founder, President & CEO of Better Markets, issued the following statement on the D.C. District Court ruling that the Trump administration cannot shut down the Consumer Financial Protection Bureau (CFPB).

“We applaud the court’s rejection today of the Trump Administration’s illegal attempt to kill the CFPB by defunding it, which the court prohibited before the resolution of the pending lawsuit on the merits. The CFPB is the most successful consumer protection agency in the history of the United States and has returned more than $21 billion to tens of millions of Americans who were ripped off by big banks, credit card companies, and other financial firms.

“If President Trump and his administration were serious about standing up for hard-working Main Street Americans, they would fully fund the CFPB and help protect them from getting ripped off by Wall Street’s giant firms. Protecting the American people, not big bank profits, should be the priority.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.