Today news
About the same in other media
CFPB Funding Method Found Unconstitutional by Federal Appeals Court
Reading now: 954
WASHINGTON—A federal appeals court found the U.S. Consumer Financial Protection Bureau is funded through an unconstitutional method, a ruling that threw out the agency’s regulation on payday lenders and struck a blow against how the agency operates.
The decision, by a three-judge panel of the Fifth U.S. Circuit Court of Appeals in New Orleans, found the CFPB’s funding structure violated the Constitution’s doctrine of separation of powers, which sets the authority of the three branches of government. Congress has the sole power of the federal purse, and the bureau’s funding structure undercuts that authority, the court said.
Read more on wsj.comAbout this in other media
Blockchain.com Seeks New Funding at $4 Billion Valuation – 70% Decline From Previous Round cryptonews.com /2 years ago
VC Roundup: Web3 dev, EVM sharding and crypto banking headline blockchain funding deals cointelegraph.com /2 years ago
Appeals Court Ruling Casts Shadow Over CFPB Activities wsj.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
