FOR IMMEDIATE RELEASE
May 17, 2024
Contact: Shannon Craig Straw, scstraw@westendstrategy.com, 202-674-5921

Missouri Faith Voices and Faith in Action leaders deem the ruling a win for the American people

WASHINGTON – Faith leaders and fair lending advocates are applauding the United States Supreme Court’s rejection of the challenge to the Consumer Financial Protection Bureau’s (CFPB) in a ruling that the funding stream for the agency is constitutional.

The ruling comes after more than a decade of organizing and advocacy by faith leaders in communities across the country. Leaders with Missouri Faith Voices and Faith in Action, who have been advocating since 2011 for an end to predatory lending on the local, state, and federal levels, emphasize that the SCOTUS ruling is a step toward the economic justice and equity that are necessary to ensure the well-being of families.

The Rev. Susan Schmalzbauer, a United Methodist pastor and board member of Missouri Faith Voices, welcomed the ruling: “With this ruling, the Consumer Financial Protection Bureau can continue to do what they do best: protect consumers. I am reminded of the words from Deuteronomy 16:20 ‘Justice, justice thou shalt pursue.’ We have pursued that justice and it is a good day.”

The Rev. Dr. Cassandra Gould, senior faith strategist for Faith in Action and member of the Center for Responsible Lending’s Faith and Credit Steering Committee, celebrated the victory for the agency that is especially important in Black, brown and indigenous communities disproportionately harmed by predatory lending: “Faith leaders are often the first responders when community members are victimized by financial predation. In the absence of a national rate cap on small dollar lending, communities across the country have answered the call bailing out consumers and creating alternative programs to exploitative payday loans and passing ordinances that regulate payday lenders in Missouri and Texas. 

‘Often in organizing, wins are few and far in between.But after the Supreme Court ruling, leaders, unsuspecting borrowers and organizers are celebrating that the CFPB has been protected as it has consistently protected borrowers and returned billions of dollars to people across the country.  In our current political environment where capitalism and partisan politics seem to be the order of the day, the Court’s ruling is a reminder that organizing and faith leadership still matters. From day one, the CFPB leadership has engaged the faith community and listened to the stories of borrowers from across the country. They have acted with moral courage to protect borrowers. This work and collaboration has mattered in our Network and with advocacy partners across the country. We are reminded of the words of Dr. King, ‘The arc of the moral universe is long, but it bends towards justice.’”

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Faith in Action is the largest grassroots, global faith-based organizing network. The nonpartisan organization works with 1,000 congregations in more than 200 cities and towns through its 46 local and state federations as well as in Haiti, Central America, Africa, and Eastern Europe.