A federal appeals court has found that the U.S. Consumer Financial Protection Bureau is funded through an unconstitutional method
Americans have massively increased the amount of credit they've taken on this year. With prices expected to continue rising, this could be flashing a warning sign about the economy. WSJ’s Dion Rabouin examines these trends and explains what they tell us. Photo composite: Elizabeth SmelovWASHINGTON—A federal appeals court found the U.S.
Consumer Financial Protection Bureau is funded through an unconstitutional method, a ruling that threw out the agency’sThe decision, by a three-judge panel of the Fifth U.S. Circuit Court of Appeals in New Orleans, found the CFPB’s funding structure violated the Constitution’s doctrine of separation of powers, which sets the authority of the three branches of government. Congress has the sole power of the federal purse, and the bureau’s funding structure undercuts that authority, the court said.
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