Funding for Agency Created in Obama Era Violates the US Constitution: Appeals Court

Started by Epoch-Times-Bot, Oct 20, 2022, 09:00 AM

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Epoch-Times-Bot

Oct 20, 2022, 09:00 AM
Funding for Agency Created in Obama Era Violates the US Constitution: Appeals Court

The funding stream for the Consumer Financial Protection Bureau (CFPB), created by Congress and approved by then-President Barack Obama in 2008, is unconstitutional, a U.S. appeals court ruled on Oct. 19.
The bureau, which has a mission to implement and enforce federal consumer finance law, was given the power to oversee 18 federal laws, ranging from those covering credit cards to student loans. It is funded by the Federal Reserve, as opposed to the typical funding stream of periodic congressional appropriations.
That mechanism violates the U.S. Constitution’s Appropriations Clause, which outlines the separation of powers into three branches of government, plaintiffs said....

Source: Funding for Agency Created in Obama Era Violates the US Constitution: Appeals Court

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