SCOTUS To Hear Arguments on Constitutionality of Consumer Financial Protection Bureau

2/28/23
 
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from Conservative Brief,
2/21/23:

The U.S. Supreme Court will hear arguments in the case against the Consumer Financial Protection Bureau, an agency that Democrat Sen. Elizabeth Warren helped create following the 2008 market crash.

“The issue before the court is how the CFPB is funded – the financial watchdog agency bypasses typical congressional appropriations and simply requires the CFPB director to make requests to the Treasury Department for funds as needed. The banking industry parties challenging the CFPB say that is unconstitutional, citing the Appropriations Clause of the Constitution,” Fox News reported.

Last October, a three-judge panel on the U.S. Court of Appeals for the 5th Circuit ruled that the funding mechanism violated the Constitution and that the CFPB’s funding should be appropriated by Congress from the U.S. Treasury.

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