The Supreme Court announced Monday it would hear a challenge to the Consumer Financial Protection Bureau and weigh whether the agency was lawfully created and funded.
The Biden administration asked the high court to review an October ruling from the U.S. Court of Appeals for the 5th Circuit, which held that Congress ran afoul of the Constitution when it delegated its financial authority to an executive agency.
The three-judge panel reasoned that Congress appropriates funds via the Constitution’s Appropriations Clause but handed over that authority when it created the CFPB, giving the agency unchecked power. “The court of appeals relied on an unprecedented and erroneous understanding of the Appropriations Clause to hold the CFPB’s statutory funding mechanism unconstitutional,” Ms. Preloger wrote in her petition. “Congress enacted a statute explicitly authorizing the CFPB to use a specified amount of funds from a specified source for specified purposes. The Appropriations Clause requires nothing more.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Supreme Court to decide fate of Obama-era Consumer Financial Protection BureauThe Supreme Court said it would decide on the constitutionality of the CFPB, which is funded by the Federal Reserve and not Congress.
Leer más »
Supreme Court takes up challenge to consumer protection agency’s fundingSupreme Court agrees to resolve a legal challenge brought by business groups that claim that the Consumer Financial Protection Bureau’s decisions should be voided because Congress does not directly fund it.
Leer más »
Company that lost to mini-casino developer appeals to Pa. Supreme CourtThe project is planned for the former Macy's store at Nittany Mall, but there are questions over the winning bidder's qualifications.
Leer más »
How the Supreme Court could reshape the internet as you know it'Would Google collapse, and the internet be destroyed,' Justice Alito asked a Google attorney on Tuesday, 'if YouTube and therefore Google were potentially liable' for the content its users posted?
Leer más »
How the Supreme Court could reshape the internet as you know it'Would Google collapse, and the internet be destroyed,' Justice Alito asked a Google attorney on Tuesday, 'if YouTube and therefore Google were potentially liable' for the content its users posted?
Leer más »
Supreme Court Justice Thomas Moore Has Personal Experience With Student LoansThe Supreme Court won’t have far to look for a personal take on the “crushing weight” of student debt that underlies the Biden administration’s college loan forgiveness plan.
Leer más »