All grants of legislative powers to the administrative state are unconstitutional.
Why?
Because the legislative powers Congress exercises are GRANTED to Congress, and only to Congress, by the People.
And Congress is to exercise ALL LEGISLATIVE POWERS HEREIN GRANTED, one of which is not to give some of them away.
The stakes are high for both consumer protection advocates and financial services institutions. The latter have, in the past five years, been ordered by the CFPB to return nearly $12 billion to 29 million of their customers in recompense for various predatory practices.
This issue is constitutionally and the ruling may eliminate this board.
Why would I suspect that the money DID NOT go back to the customers but were given to certain programs for political purposes? Would like to see more info on that but that may not be the issue to hit on at this time?
If the ruling is right and eliminates this board, there is a lot of winning:
In contrast, PHH and the U.S. Chamber of Commerce—which has filed an amicus case supporting PHH’s constitutional position—both argue that if the CFPB’s structure is flawed, only Congress can fix it. In the meantime, they contend, the whole agency must be dissolved and its past orders nullified. (Among the many outside groups supporting PHH are industry trade groups, like the American Bankers Association; the libertarian Cato Institute; and 15 mostly red states, led by Missouri.)