JGalt
Diamond Member
- Mar 9, 2011
- 76,419
- 96,198
- 3,635
Yet another scam perpetrated on American taxpayers, this time by the Fake Injun.
"A federal appeals court ruled Wednesday that the Consumer Financial Protection Bureau’s (CFPB) method of funding is unconstitutional under the premise that it bypasses Congress, directly pulling funding from the Federal Reserve.
A three-judge panel of the 5th U.S. Circuit Court ruled that the CFPB lacks significant methods of accountability and violates the Constitution’s separation of powers, arguing that Congress unconstitutionally ceded its power of the purse to the Bureau in 2011, according to the court ruling. The CFPB was formed as a result of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 and was the brainchild of Democratic Massachusetts Sen. Elizabeth Warren, who helped establish the bureau.
“Congress’s decision to abdicate its appropriations power under the Constitution, i.e., to cede its power of the purse to the Bureau, violates the Constitution’s structural separation of powers,” the ruling read."
Court rules Sen. Warren's pet project is funded illegally
"A federal appeals court ruled Wednesday that the Consumer Financial Protection Bureau’s (CFPB) method of funding is unconstitutional under the premise that it bypasses Congress, directly pulling funding from the Federal Reserve.
A three-judge panel of the 5th U.S. Circuit Court ruled that the CFPB lacks significant methods of accountability and violates the Constitution’s separation of powers, arguing that Congress unconstitutionally ceded its power of the purse to the Bureau in 2011, according to the court ruling. The CFPB was formed as a result of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 and was the brainchild of Democratic Massachusetts Sen. Elizabeth Warren, who helped establish the bureau.
“Congress’s decision to abdicate its appropriations power under the Constitution, i.e., to cede its power of the purse to the Bureau, violates the Constitution’s structural separation of powers,” the ruling read."
Court rules Sen. Warren's pet project is funded illegally