The Supreme Court on Tuesday heard arguments in a case that will determine the constitutionality of the Consumer Financial Protection Bureau. For years, conservatives and libertarians have been arguing that the bureau is unconstitutionally constituted — and not just in terms of the original setup…
The Supreme Court on Tuesday heard arguments in a case that will determine the constitutionality of the Consumer Financial Protection Bureau. For years, conservatives and libertarians have been arguing that the bureau is unconstitutionally constituted — and not just in terms of the original setup that made it functionally impossible to fire its director, but in its funding structure.
Even Clarence Thomas seemed somewhat skeptical of the anti-CFPB side’s argument, asking of its lawyer, Noel Francisco, “I'd like you to complete this sentence: Funding of the CFPB … violates the appropriations clause because....” The most obvious pathway forward is reforming the CFPB to place the agency under the normal congressional appropriations process. This is what Rep.
But there are other reforms worth considering, too. Two would be passage of bills introduced by Rep. Tom Emmer : the CFPB Dual Mandate and Economic Analysis Act and the CFPB Whistleblower Incentives and Protection Act.
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