Appeals court rules CFPB funding source unconstitutional
Housing Wire
OCTOBER 20, 2022
The Fifth Circuit U.S. Court of Appeals found this week that the funding source for the Consumer Financial Protection Bureau (CFPB) is unconstitutional , according to a decision reached by a three-judge panel. The panel found that the “design of the CFPB violated the Constitution because it receives funding through the Federal Reserve, rather than appropriations legislation passed by Congress,” reads a story on the decision by Politico.
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