A new dark cloud descends: Fifth Circuit panel rules that CFPB funding mechanism is unconstitutional
CFPB Monitor
OCTOBER 20, 2022
The ruling was issued in Community Financial Services Association of America, Limited v. At present, the Fifth Circuit’s decision is only binding on federal district courts in Texas, Louisiana, and Mississippi. In addition to the Federal Reserve, the OCC, FDIC, NCUA, and FHFA are not funded through appropriations.
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