Posted on Feb 28, 2023
Supreme Court to hear case that threatens existence of consumer protection agency
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https://www.npr.org/2023/02/27/ [login to see] /supreme-court-cfpb
The Supreme Court agreed on Monday to take up a case that could threaten the existence of the Consumer Financial Protection Bureau and potentially the status of numerous other federal agencies, including the Federal Reserve.
A panel of three Trump appointees on the Fifth Circuit Court of Appeals ruled last fall that the agency's funding is unconstitutional because the CFPB gets its money from the Federal Reserve, which in turn is funded by bank fees.
The Supreme Court agreed on Monday to take up a case that could threaten the existence of the Consumer Financial Protection Bureau and potentially the status of numerous other federal agencies, including the Federal Reserve.
A panel of three Trump appointees on the Fifth Circuit Court of Appeals ruled last fall that the agency's funding is unconstitutional because the CFPB gets its money from the Federal Reserve, which in turn is funded by bank fees.
Supreme Court to hear case that threatens existence of consumer protection agency
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Posted >1 y ago
Responses: 3
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Sounds like some/all of these institutions should be private verses federal. But I'm no expert in this matter. Just another citizen.
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Elizabeth Warren said, "If the Supreme Court follows more than a century of law and historical precedent," she said, "it will strike down the Fifth Circuit's decision before it throws our financial market and economy into chaos."
She should know, hasn't she been around that long?
She should know, hasn't she been around that long?
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