Elizabeth Warren Condemns All-Trump Court Panel for Ruling Against Consumer Protection Agency HEAD TOPICS
Elizabeth Warren Condemns All-Trump Court Panel for Ruling Against Consumer Protection Agency
10/21/2022 8:48:00 PM If allowed to stand the ruling will essentially sideline the agency unless Congress changes how it is funded
Source Truthout
Elizabeth Warren: “Extreme right-wing judges are throwing into question every rule the Consumer Financial Protection Bureau enforces to protect consumers and businesses alike.” If allowed to stand the ruling will essentially sideline the agency unless Congress changes how it is funded when he was a candidate for political office in 2018.The CFPB did not say how it planned to react to the ruling, but it’s likely that an appeal is imminent, either to the entire 5th U.S. Circuit Court or directly to the Supreme Court. Officials from the agency vehemently disagreed with the ruling, noting that other agencies have similar means of receiving funds. “There is nothing novel or unusual about Congress’s decision to fund the CFPB outside of annual spending bills,”agency spokesperson Sam Gilford said.Other financial agencies — including the Federal Deposit Insurance Corporation and the Federal Housing Finance Agency — are like the CFPB in that they do not rely on regular appropriations from Congress in order to operate. The 5th Circuit panel’s decision also goes against previous Supreme Court decisions. Read more:
Truthout » Appeals Court Ruling Casts Shadow Over CFPB Activities U.S. consumer protection watchdog's funding unconstitutional, court rules Appeals court says financial watchdog agency CFPB's structure is unconstitutional Appeals court says financial watchdog agency CFPB's structure is unconstitutional Watch Christina Aguilera s Life in Looks From Moulin Rouge to Dirrty
The pop star revisits her best—and boldest—outfits over her career. Read more >> Appeals Court Ruling Casts Shadow Over CFPB ActivitiesAn appellate court ruling that the U.S. Consumer Financial Protection Bureau is unconstitutionally funded could undermine the agency’s rules to ensure smooth functioning of the $13 trillion mortgage market. What a face 😂, kudos to the photographer 💐😂😂😂 nevermind that it is unconstitutional U.S. consumer protection watchdog's funding unconstitutional, court rulesA federal appeals court ruled on Wednesday that the U.S. Consumer Financial Protection Bureau's funding apparatus is unconstitutional, faulting a system Democrats designed to insulate the agency from requiring congressional appropriations. Democrats trying to skirt the system….again. SenWarren ha ha. Sounds like fraud. Truth always comes out..Soon or later..KARMA Appeals court says financial watchdog agency CFPB's structure is unconstitutionalAn appeals court ruled the funding structure of the U.S. financial watchdog agency, the Consumer Financial Protection Bureau, is unconstitutional because it receives funds through the Fed — not Congress. Appeals court says financial watchdog agency CFPB's structure is unconstitutionalAn appeals court ruled the funding structure of the U.S. financial watchdog agency, the Consumer Financial Protection Bureau, is unconstitutional because it receives funds through the Fed — not Congress. It makes sense for them to push for predatory lending because they know millions of Americans will be increasingly dependent on credit cards as the nation hurdles toward a deep recession Good gawd. JFC. Elizabeth Warren among senators looking to crack down on 'junk fees' from remittance providersBusinesses can get around the Consumer Financial Protection Bureau’s orders meant to drive transparency around how much customers are charged for international remittance payments, a group of senators wrote in a letter to CFPB Director Rohit Chopra. received thousands of dollars from Wall Street bankers when he was a candidate for political office in 2018.Oct.The New Orleans-based 5th U./ Bloomberg via Getty Images A seal at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D. The CFPB did not say how it planned to react to the ruling, but it’s likely that an appeal is imminent, either to the entire 5th U.S.S. Circuit Court or directly to the Supreme Court.S. Officials from the agency vehemently disagreed with the ruling, noting that other agencies have similar means of receiving funds. The decision, by a three-judge panel of the Fifth U. “There is nothing novel or unusual about Congress’s decision to fund the CFPB outside of annual spending bills,” agency spokesperson Sam Gilford said .S. Other financial agencies — including the Federal Deposit Insurance Corporation and the Federal Housing Finance Agency — are like the CFPB in that they do not rely on regular appropriations from Congress in order to operate. Circuit Court of Appeals in New Orleans, is the latest blow to hit the consumer financial regulator that. Register now for FREE unlimited access to Reuters. The 5th Circuit panel’s decision also goes against previous Supreme Court decisions. Vox : Nothing in the Constitution prevents Congress from funding agencies in a variety of ways. Congress could fund an agency through an annual appropriation, or a five-year appropriation, or a 500-year appropriation.S. It may also authorize the agency to collect fines or fees to fund its operations. To protect it from political influence though, the bureau receives its funding from the Federal Reserve, not Congress. for the CFPB in 2007, six years prior to becoming a U.S." A CFPB spokesperson said there was "nothing novel or unusual about Congress's decision to fund the CFPB outside of annual spending bills. senator. Warren has condemned the 5th Circuit ruling. “This is a lawless and reckless decision,” . Supreme Court. "The CFPB is likely to ask for a stay while it seeks an appeal to the entire 5th Circuit.