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Fifth Circuit finds CFPB funding structure unconstitutional
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Case Law, Consumer Protection, Dodd-Frank Basics, Nonbank Financial
Friday, October 21, 2022
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In the case of Community Financial Services Association of America Ltd., et al. v. CFPB, the Fifth Circuit determined the Consumer Financial Protection Bureau's funding structure was in violation of the Article I appropriations authority given to Congress and a violation of the separation of powers. This case is expected to lead to a Supreme Court decision in the next term for a final ruling.
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