The 5th Circuit just declared an entire federal agency unconstitutional

[Concerned American]

America’s Trumpiest court just declared an entire federal agency unconstitutional

Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority.

The decision by the conservative United States Court of Appeals for the Fifth Circuit relies on a novel reading of an obscure provision of the Constitution, and is entirely at odds with a Supreme Court decision that rejects the Fifth Circuit’s reading of that provision. This is not unusual behavior from the Fifth Circuit, which often reads the Constitution in novel and unexpected ways that benefit political conservatives and the Republican Party.

Indeed, Judge Cory Wilson admits in the court’s new opinion in Community Financial Services v. CFPB that “every court to consider” the arguments presented in this case has deemed the CFPB to be “constitutionally sound.”
https://www.vox.com/policy-and-poli...rcuit-supreme-court-trump-community-financial

Repubs have had a hardon for the CFPB ever since its inception. Apparently they hate consumer protections because it keeps their corporate masters from ripping off citizens.

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.​

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.

Kiyadh Burt lending analyst with Hope Policy Institute. NASHVILLE– For years, Carlos Restrepo operated a small trucking business in Nashville– until his insurance rates unexpectedly increased. After defaulting on the loan, Advance Financial sued him, and according to court documents, he will pay...

insurancenewsnet.com

When are leftists going to realize that the government is not their mommy. When you borrow money, you are promising to pay it back. The people who are using payday loans haven't got anyone to blame but themselves. The terms of the loans are posted PROMINENTLY in each store. The last one I saw posted in 4" letters that if the loan was held for a year it would cost 460%. What kind of idiot uses that kind of loan? Caveat Emptor. Live within your means.

 

[berg80]

You federal supremacists always talk about "muh democracy" when bureaucrats are the antithesis of it.
You people are so fucking stupid

In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law – often referred to as the Dodd-Frank Act – created the Consumer Financial Protection Bureau (the CFPB).



I guess you want all regulatory agencies authorized by Congress to be eliminated cuz you like predatory lending, industrial pollution, unsafe drugs and food, etc.

 

[berg80]

When are leftists going to realize that the government is not their mommy. When you borrow money, you are promising to pay it back.

Google "predatory lending." Jeesh, you folks are nuts.

 

[Concerned American]

An example of what is expected with the rise of fascism. They won't be waiting for any bothersome election.

You'd better research consumer debt in Canada, duck. The average credit card debt for EVERY Canadian is somewhere in the neighborhood of $21K. Those CC companies only require $25 minimum payments. How long do you think it takes to pay off $21K at $25/mo? Apparently the fascists are alive and well in Canada, eh, duck?

 

[Concerned American]

In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law – often referred to as the Dodd-Frank Act – created the Consumer Financial Protection Bureau (the CFPB).



I guess you want all regulatory agencies authorized by Congress to be eliminated cuz you like predatory lending, industrial pollution, unsafe drugs and food, etc.

If you will pay $460 for every $1 you borrow, you deserve everything you get. Grow up and take care of yourself, your mommy isn't in government.

 

[Concerned American]

Google "predatory lending." Jeesh, you folks are nuts.

Again, when are you going to take responsibility for yourself? Nobody is forcing you to take a loan from anyone. Is the Federal Reserve predatory? They set interest rates. Run along junior, come back when you grow up and can take care of yourself.

 

[Viktor]

America’s Trumpiest court just declared an entire federal agency unconstitutional

Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority.

The decision by the conservative United States Court of Appeals for the Fifth Circuit relies on a novel reading of an obscure provision of the Constitution, and is entirely at odds with a Supreme Court decision that rejects the Fifth Circuit’s reading of that provision. This is not unusual behavior from the Fifth Circuit, which often reads the Constitution in novel and unexpected ways that benefit political conservatives and the Republican Party.

Indeed, Judge Cory Wilson admits in the court’s new opinion in Community Financial Services v. CFPB that “every court to consider” the arguments presented in this case has deemed the CFPB to be “constitutionally sound.”
https://www.vox.com/policy-and-poli...rcuit-supreme-court-trump-community-financial

Repubs have had a hardon for the CFPB ever since its inception. Apparently they hate consumer protections because it keeps their corporate masters from ripping off citizens.

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.​

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.

Kiyadh Burt lending analyst with Hope Policy Institute. NASHVILLE– For years, Carlos Restrepo operated a small trucking business in Nashville– until his insurance rates unexpectedly increased. After defaulting on the loan, Advance Financial sued him, and according to court documents, he will pay...

insurancenewsnet.com

Each state has an agency that does that. We don't need the duplication.

 

[TNHarley]

I guess you want all regulatory agencies authorized by Congress to be eliminated cuz you like predatory lending, industrial pollution, unsafe drugs and food, etc

Yeah thats it!!
No dumbass. I like the federal govt to do what they are supposed to do. Not abuse their power.
Any other childish responses?

 

[Concerned American]

Each state has an agency that does that. We don't need the duplication.

Usury laws are in effect everywhere in America. The leftists would rather make tax payers pay PREDATORY taxes to support another layer of bureaucracy than demand that current laws be enforced and personal responsibility and accountability required.

 

[bripat9643]

America’s Trumpiest court just declared an entire federal agency unconstitutional

Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority.

The decision by the conservative United States Court of Appeals for the Fifth Circuit relies on a novel reading of an obscure provision of the Constitution, and is entirely at odds with a Supreme Court decision that rejects the Fifth Circuit’s reading of that provision. This is not unusual behavior from the Fifth Circuit, which often reads the Constitution in novel and unexpected ways that benefit political conservatives and the Republican Party.

Indeed, Judge Cory Wilson admits in the court’s new opinion in Community Financial Services v. CFPB that “every court to consider” the arguments presented in this case has deemed the CFPB to be “constitutionally sound.”
https://www.vox.com/policy-and-poli...rcuit-supreme-court-trump-community-financial

Repubs have had a hardon for the CFPB ever since its inception. Apparently they hate consumer protections because it keeps their corporate masters from ripping off citizens.

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.​

With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.

Kiyadh Burt lending analyst with Hope Policy Institute. NASHVILLE– For years, Carlos Restrepo operated a small trucking business in Nashville– until his insurance rates unexpectedly increased. After defaulting on the loan, Advance Financial sued him, and according to court documents, he will pay...

insurancenewsnet.com

They decided right for once. Politicians do not determine its funding. Bureaucrats do.

 

[bripat9643]

In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law – often referred to as the Dodd-Frank Act – created the Consumer Financial Protection Bureau (the CFPB).



I guess you want all regulatory agencies authorized by Congress to be eliminated cuz you like predatory lending, industrial pollution, unsafe drugs and food, etc.

The bill is unconstitutional. Congress is supposed to authorize spending, not some government bureaucracy.

 

[BlindBoo]

When are leftists going to realize that the government is not their mommy.......The people who are using payday loans haven't got anyone to blame but themselves.

Yeah, don't they know the Gov. only bails out "Too Big to Fail" industries that knowingly create worthless mortgage bundles as A+ investments. How dare they try to protect the serfs so stupid that they don't read the fine or large print.

 

[Donald H]

Google "predatory lending." Jeesh, you folks are nuts.

Read carefully and understand that most American are at least subconsciously understanding that they're watching the rise of fascism.

They therefore don't debate the point but instead turn to spamming and crude attempts to insult those who are trying to address the issue with examples.

The resistance has nothing but national pride that prevents them from addressing the rise of fascism head-on, but that national pride could evaporate away very quickly with a huge loss that's most likely coming for the D party.

 

[Donald H]

Yeah, don't they know the Gov. only bails out "Too Big to Fail" industries that knowingly create worthless mortgage bundles as A+ investments. How dare they try to protect the serfs so stupid that they don't read the fine or large print.

There's no way back for democracy after a fascist takeover. There will be no fair elections and no interpretation of the Constitution that can be applied. There may still be a Constitution but it will be rendered silent on all issues that could interfere with the fascist regime.

Now is the time before it's too late for the resistance to wake up to reality. They must lose their national pride that keeps them ensured that it could never happen in America.

In two weeks it's about to happen unless a miracle from the gods can stop it!

 

[Dragonlady]

Dred Scott was also a SC decision....I bet you would have stood by that one too.

There are numerous SC decisions that have been both WRONG and harmful to the nation. Citizens United being the primary case in point, in recent years.

 

[Dragonlady]

Read carefully and understand that most American are at least subconsciously understanding that they're watching the rise of fascism.

They therefore don't debate the point but instead turn to spamming and crude attempts to insult those who are trying to address the issue with examples.

The resistance has nothing but national pride that prevents them from addressing the rise of fascism head-on, but that national pride could evaporate away very quickly with a huge loss that's most likely coming for the D party.

The fascism is entirely on the Republican side, which, of course, the Republicans are denying so vociferously that it's laughable.

 

[BlindBoo]

There's no way back for democracy after a fascist takeover. There will be no fair elections and no interpretation of the Constitution that can be applied. There may still be a Constitution but it will be rendered silent on all issues that could interfere with the fascist regime.

They're budding little fascist and they will not prevail. If they pursue a long train of abuses and usurpations designed to reduce us to living under absolute Despotism, it is our right, it is our duty, to throw them off, and to provide new Guards for our future security.

But one election isn't going to do squat. The same gridlock that existed the day before will still be there the next day, and the entire circus will start anew.

 

[Donald H]

They're budding little fascist and they will not prevail. If they pursue a long train of abuses and usurpations designed to reduce us to living under absolute Despotism, it is our right, it is our duty, to throw them off, and to provide new Guards for our future security.

But one election isn't going to do squat. The same gridlock that existed the day before will still be there the next day, and the entire circus will start anew.

You're not accepting that those who strive to uphold democracy have become the minority!

Perhaps that's true and you're right that fascism will be defeated. But you're going to have to base your understanding on the belief that the Democratic party won't be almost completely eliminated from politics. And understand that the American system can facilitate even a 49/51% win for one party to grasp absolute power.

If the R's take both sides, it need not be a resounding defeat, even though it's shaping up to be that.

And then the fact that democracy has already been severely eroded, there will be no route back for democracy.

just the fact that Trump has your Scotus in his pocket, should cause you to be very afraid.

I think it's quite possible that democracy no longer can rely on the military! Give that some careful thought!

 

[Concerned American]

And then the fact that democracy has already been severely eroded, there will be no route back for democracy.

When are you going to get it through your thick skull, duck? America is not a democracy. America is a REPUBLIC. Morons. You have no room to comment as you adhere to a constitutional MONARCHY. I guess there goes your argument for democracy. Again, get your own glass house in order before you throw stones.

 

[Donald H]

The fascism is entirely on the Republican side, which, of course, the Republicans are denying so vociferously that it's laughable.

Yes, it is at the moment, even though it's been grown by the defecting of a good many D supporters. Most ordinary working class people!

When fascism rises, the movement quickly becomes popular enough to command over 90% support of the country's people.

That fact isn't debatable.

It can only be debated on whether or not it can happen in America.