Posted on 02/16/2017 11:39:00 AM PST by Brad from Tennessee
A federal court on Thursday approved a request from the Consumer Financial Protection Bureau (CFPB) to re-hear a case questioning the constitutionality of its structure.
The order from the U.S. Court of Appeals for the District of Columbia Circuit invalidates an earlier judgment from October that found the CFPB to be “unconstitutionally structured” because it is helmed by a single individual, Director Richard Cordray, who could only be removed by the president and “for cause.”
In addition to restoring Cordray’s power, Thursday's order strikes the previous ruling stating that a $109 million penalty against the mortgage company PHH Corp. — which sued the agency — would be thrown out.
An 11-judge panel — including D.C. Circuit Chief Judge Merrick Garland, President Obama’s unsuccessful pick for the U.S. Supreme Court — will hear arguments on May 24. Garland had recused himself from the previous hearings on this case while he awaited a hearing for the Supreme Court.
The October ruling was a blow to the agency, which was formed in the wake of the global financial crisis of 2008, but left it able to continue operations. . .
(Excerpt) Read more at thehill.com ...
How is it that on its own an agency under the executive part of the government can go to court without the backing of the administration? This shows on its face that this is a rogue organization and it should be eliminated.
It is not Constitutional.
Even the Federal Reserve is not a federal entity. How can the CFPB be?
Also, how can you have someone who acts as the King of an agency? The head of the CFPB can have the appointment for life and appears to be free of any federal regulation over itself.
Is this not unusual?
Since when do Fed courts voluntarily agree to re-hear cases?
It is likely the appeal was taken prior to January 20th, with the blessings of the prior administration. (FYI - this is the agency where Fauxcahontas got her start, as the first agency head).
CORRECTION:
Fauxcahontas actually was slated to be the first Director of the newly-formed CFPB, which she advocated for. Obambi removed her from consideration after Senate Republicans balked. It’s a lousy, “consumer-advocate” agency that has no business at the federal level. Many state AG’s and local consumer boards are already too much oversight!
Sounds loony right? It’s the stupidest thing in the history of the American government. An Agency without oversight by anyone, anywhere, the President can’t even fire Cordray.
If that’s the case, President Trump should immediately order him to stand down and if he doesn’t, fire him for cause and disband the bureau.
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Sounds loony right? It’s the stupidest thing in the history of the American government. An Agency without oversight by anyone, anywhere, the President can’t even fire Cordray.
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Yep. I’m sure the small-govt (R) have a bill to abolish this abomination at the ready.
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