New jersey ag pledges to oppose president trump and his "unelected billionaire" elon musk

TRENTON, N.J. — A coalition of 23 attorneys general, led by New Jersey Attorney General Matthew J. Platkin and New York Attorney General Letitia James, is opposing efforts by the Trump administration and Elon Musk to defund and dismantle the Consumer Financial Protection Bureau (CFPB).

In an amicus brief filed in the U.S. District Court for the District of Maryland, the attorneys general argue that eliminating the CFPB would harm consumers and weaken enforcement of federal consumer protection laws. The independent agency, established in 2011 following the Great Recession, oversees financial institutions and has recovered more than $20 billion for consumers.

“Through an unelected billionaire, President Trump is attempting to destroy a critical watchdog that has saved the homes of New Jerseyans, returned hard-earned money to the pockets of our residents, and fought to protect consumers from the abusive conduct of major corporations,” Platkin said.

On February 9, the Trump administration directed the CFPB to halt ongoing investigations and stop initiating new cases. The move has drawn sharp criticism from state officials, who say it will reduce oversight of major financial institutions and could lead to consumer harm similar to that seen before the 2008 financial crisis.

The attorneys general warn that dismantling the agency could make it more difficult for consumers to report fraud and allow large banks to operate with less regulatory scrutiny. Attorneys general from 21 other states and the District of Columbia joined the brief in support of maintaining the agency.

State attorneys general are pushing back against the Trump administration’s effort to dismantle a key financial watchdog, warning of potential harm to consumers.

Shore News Network Latest posts

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

Stilton's journalism follows established newsroom standards emphasizing accuracy, verification, fairness, and accountability. Every effort is made to verify information through official records and multiple reliable sources before publication. His reporting is intended to provide readers with timely, well-documented information that helps them understand the issues affecting their communities, while maintaining editorial independence from political parties, government agencies, advocacy organizations, and commercial interests.

Readers can submit story tips, corrections, public records, or media inquiries through the official Shore News Network website or its verified social media channels. Shore News Network welcomes corrections and updates when new information becomes available as part of its ongoing commitment to accurate and transparent journalism.