The Consumer Financial Protection Bureau (CFPB) was a corrupt slush fund for the Democrats that never should have been created in the first place. This week the 5th Circuit found that the CFPB is unconstitutional.
The corrupt Democrats created the CFPB in the early part of the Biden Presidency. This corrupt organization was created through the regulatory mess known as Dodd-Frank.
The CFPB was funded by fines the Democrat-led entity put in place against US companies and then the Democrats used this money in the billions to fund their causes.
In 2017 after President Trump took over the CFPB was looked into the organization. This move threatened Elizabeth Warren and the American left who relied on the CFPB bank fines to fund their organizations.
When President Trump picked Mick Mulvaney to run the CFPB, the far-left hack in place would not leave. It took a judge to rule that the Democrat hack had no business assuming that she belonged in the top role of the CFPB as this decision is made by the President.
There have long been rumors that this entity was up to no good since it was another Democrat bureaucratic nightmare.
This week the funding mechanism of this corrupt entity was ruled unconstitutional.
The Fifth Circuit just ruled that the funding mechanism of the Consumer Financial Protection Bureau (CFPB) was unconstitutional.
“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,” a three-judge panel of the 5th U.S. Circuit Court of Appeals ruled in a case brought by a payday lending group against the CFPB’s 2017 payday lending rule.
In other words, they were improperly delegating something that was their responsibility — their power to exercise.
“Even among self-funded agencies, the Bureau is unique,” Judge Cory Wilson wrote Wednesday. “The Bureau’s perpetual self-directed, double-insulated funding structure goes a significant step further than that enjoyed by the other agencies on offer.”
We know that giving power to unaccountable bureaucracies — something that Democrats love to do, especially when they are in control of the bureaucracies — ends up being a bad idea, so this is a great decision.
Republican Rep. Tom Emmer tweeted that the GOP has a plan for the unconstitutional CFPB.
The Fifth Circuit rules that the CFPB, created by Elizabeth Warren via the Dodd-Frank Act, is unconstitutional and must be brought under congressional appropriations. Fortunately, @FinancialCmte has a plan for that. pic.twitter.com/gumKXNNxd2
— Tom Emmer (@RepTomEmmer) October 19, 2022
We need a lot more of these rulings to get our country back.