Posted on 10/21/2022 7:19:30 AM PDT by where's_the_Outrage?
Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority.
The decision by the conservative United States Court of Appeals for the Fifth Circuit relies on a novel reading of an obscure provision of the Constitution, and is entirely at odds with a Supreme Court decision that rejects the Fifth Circuit’s reading of that provision. This is not unusual behavior from the Fifth Circuit, which often reads the Constitution in novel and unexpected ways that benefit political conservatives and the Republican Party.
Indeed, Judge Cory Wilson admits in the court’s new opinion in Community Financial Services v. CFPB that “every court to consider” the arguments presented in this case has deemed the CFPB to be “constitutionally sound.”
Should the three Trump judges’ decision stand, it would effectively neutralize much of the federal government’s ability to fight financial fraud — although that outcome probably is not likely given that the Fifth Circuit’s decision is such an outlier. As Wilson explains, the CFPB assumed enforcement authority “over 18 federal statutes” when it was formed nearly a dozen years ago, and these statutes “cover everything from credit cards and car payments to mortgages and student loans.”
(Excerpt) Read more at msn.com ...
And the sharp-as-a-tack "journalistic outlet" points nowhere to the actual law, but simply makes the wild, unsubstantiated claim that this decision will neutralize the government's ability to combat financial fraud. That's laughable on its face. This decision will reinforce the country's prosecutors' deafness to all financial crimes?
How reminiscent is that of "giving up the Constitution on a (fake) promise of protection?"
But it's just the tip of the iceberg.
80%+ - $3 trillion - of the federal government is unconstitutional! What do people think the "Deep State" and "The Swamp" is???
NUKE THE ENTIRE UNCONSTITUIONAL REGULATORY STATE (EPA, FAA, FCC, FTC, SEC, FEC) AND DEPTS OF EDUCATION, ENGERY, TRANSPORTATION, HHS, HOUSING, HUD, LABOR!!!
Rule by bureaucracy. "You won't know what's in the legislation until we pass it"(Obama care). Create the agency and they will make the laws.
Good news, but Partisan Media Shill and Stooge alert.
” a novel reading of an obscure provision of the Constitution”
LOL.
It created a non-elected executive branch, not subject to the authority of the executive branch and exempt from over site and funding control of Congress.
It violated the very three-branch framework of your Constitution in two ways.
Actually just rubber-stamping the Federalist Society leads to squishy USSC Justices—e.g., Barrett, Gorsuch and Kavanaugh—more often than not.
I think we need to start naming all the federal agencies that fit this very statement and demanding their elimination.
Let me start with the Department of Education, the IRS and EPA.
“Dozens of such agencies have given themselves limitless powers.” And congress has allowed them to do it.
“I think we need to start naming all the federal agencies that fit this very statement and demanding their elimination.
Let me start with the Department of Education, the IRS and EPA.>
Well, they’re still funded through appropriations by the Congress, that is, by law, as the Constitution stipulates.
The court said words to the effect that the Congress cannot set up an agency with a funding source that is outside the appropriation process.
“...a novel reading of an obscure provision of the Constitution”
The ORANGE MAN is coming back!!
Why not disingenuous AND stupid?
Seems more likely.
Both/and >> either/or in many cases.
Yes. Even without the CFPB fraud would still be illegal. FBI and DOJ could still pursue financial fraudsters, oh wait....
There’s never been an obscure provision in the constitution I’ve read.
The truth would be in the open at last.
Predicted by those who know Constitional Law when the agency
was formed by Warren and the DS puppets/clowns.
Yeah, but another Trump SC judge just allowed Biden to force a plumber’s daughter to help pay for a lawyer’s son to go to college.
That should’ve been a no-brainer: Not no, but HELL NO!
This "agency" was created by the Democrats, and, as is usually the case with anything they touch, it is simply another foothold for Marxists in the government. When they originally created it, there was NO oversight from Congress, and that may still be the case. The Fifth Circuit is correct in their ruling.
If eyes should find TRUMP in the headline, more likely they
would stop and read. And yes, agree w/you on Trump’s judge, Trump’s executive order,etc. Funny thing, that. Just can’t recall ever seeing any reading Trump’s newly formed agency (other than our Space Force). Too many unelected go-fers in
place to add more. We need no more Tsars!
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