NCLA Amicus Brief Urges Supreme Court to Strike Down CFPB’s Unconstitutional Funding Method
Retrieved on:
Monday, July 10, 2023
United States courts of appeals, Legislation, Seila Law LLC v. Consumer Financial Protection Bureau, United States Court of Appeals for the Second Circuit, Federal, Consumer Protection Act, Congress, Federal Reserve, Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited, United States Court of Appeals for the Fifth Circuit, Supreme court, Law of the United Kingdom, NCLA, Court, Consumer, Community Financial Services Association of America, Appropriations bill (United States), Allan Jones (businessman), Second, Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Bureau, Limited, CFSA
Washington, D.C., July 10, 2023 (GLOBE NEWSWIRE) -- The Consumer Financial Protection Bureau operates with an illegitimate funding method, outside of direct Congressional control.
Key Points:
- Washington, D.C., July 10, 2023 (GLOBE NEWSWIRE) -- The Consumer Financial Protection Bureau operates with an illegitimate funding method, outside of direct Congressional control.
- However, the Supreme Court should recognize that Congress did not have the right to divest itself of power over CFPB’s budget under the Appropriations Clause in Article I of the Constitution.
- In October, the U.S. Court of Appeals for the Fifth Circuit correctly reached that conclusion in CFSA v. CFPB.
- Circuit Court of Appeals for the Second Circuit has since issued a decision upholding CFPB’s funding structure in CFPB v. Law Offices of Crystal Moroney, creating a circuit split that NCLA asks the Supreme Court to resolve in CFSA’s favor.