DOJ: Class Action Settlement “Not Appropriate,” Should Be Rejected

A former assistant attorney general at the U.S. Department of Justice said in a Wall Street Journal op-ed the Consumer Financial Protection Bureau (CFPB) should not abuse its litigation authority like it has in the past.

Michael Boyd, who served in the Reagan Administration, said the former CFPB director “took advantage” of unchecked litigation power. Boyd pointed to comments by former Attorney General Benjamin Civiletti, who said government enforcement and prosecution “entails profound consequences” regardless of whether a conviction is won. Boyd called on Acting Director Mick Mulvaney to heed this notion when deciding whether or not to sue.

Earlier this year, Mulvaney said the agency has “pushed its last envelope.”