The Court’s Missed Opportunity on Consumer Financial Protection

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The Consumer Financial Protection Bureau is here to stay, Senator Elizabeth Warren declared Monday after a 5-4 Supreme Court majority struck down the agency’s independent director for-cause removal provision from the Dodd-Frank Act. While a narrow victory for the separation of powers, the decision otherwise ratifies her constitutional monstrosity.

Democrats insulated the CFPB from political accountability with multiple layers of protection. The bureau derives its funding upon request to the Federal Reserve, so Congress can’t…




2020-06-29 19:16:00

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