The Supreme Court will hear oral arguments Tuesday in a case that might invalidate the most powerful federal administrative agency ever created.
Consumer Financial Protection Bureau v. Community Financial Services Association of America is an appeal of the Fifth Circuit’s unanimous holding that the CFPB’s use of the Federal Reserve System to fund its operations violates the Constitution’s separation of powers.
That opinion declared that the agency’s “perpetual insulation from Congress’ appropriation power, including the express exemption from congressional review of its funding, renders” it unaccountable “to Congress and, ultimately, to the people.”
When it was enacted as part of the 2010 Dodd-Frank Act, the bureau assumed the administration of 18 existing federal statutes.
If the Federal Reserve can finance the CFPB : what other branches of government can they finance?
