Democratic Primaries
Related: About this forumSupreme Court to weigh constitutionality of financial watchdog agency created by Elizabeth Warren
The Supreme Court has agreed to take up a dispute over the constitutionality of the Consumer Financial Protection Bureau in a case that could dramatically scale back the agency's authority to police financial markets or eliminate it altogether.
The court said Friday it will hear a challenge from a California-based law firm that argues the CFPB, the brainchild of Sen. Elizabeth Warren, a Massachusetts Democrat, is unconstitutionally structured.
Opponents of the CFPB, created in 2010, argue that its structure violates the separation of powers, as Congress gave it broad authority to regulate mortgages, credit cards, and other consumer products, and is helmed by a single director who can't be removed by the president except for cause.
The Trump administration said in a filing with the Supreme Court it concluded the "statutory restriction on the president's authority to remove the director violates" the Constitution, and "the director of the bureau has since reached the same conclusion."
https://www.washingtonexaminer.com/policy/courts/supreme-court-to-weigh-constitutionality-of-the-financial-watchdog-agency-created-by-elizabeth-warren
Trump wants the Consumer Financial Protection Bureau struck down... what a shock
primary today, I would vote for: Undecided
CaliforniaPeggy
(149,699 posts)This would be a terribly destructive moment, if they strike down all the component parts of this agency, plus the law that allowed it to be created.
More than ever, the republicans must be defeated.
primary today, I would vote for: Joe Biden
MyOwnPeace
(16,937 posts)doesn't that agency protect the interests of all Americans, providing oversight and fairness with regard to the "average" citizen, especially against large corporate interests?
Well, I guess this is like "Citizens United" - we can kiss that protection good-bye!
primary today, I would vote for: Joe Biden
LiberalFighter
(51,084 posts)primary today, I would vote for: Joe Biden
tritsofme
(17,399 posts)new Democratic president in 2021, otherwise the current Trump director could continue running the agency until late 2023.
primary today, I would vote for: Joe Biden