'Extreme right-wing judges are throwing into question every rule the CFPB enforces to protect consumers and businesses alike,' said SenWarren.
"Extreme right-wing judges are throwing into question every rule the CFPB enforces to protect consumers and businesses alike," said Sen. Elizabeth Warren.The conservative-dominated Fifth Circuit Court of Appeals ruled Wednesday that the Consumer Financial Protection Bureau's funding structure is unconstitutional, a decision that Sen. Elizabeth Warren—one of the agency's architects—decried as"lawless and reckless.
"If it stands, it will go down in history as one of the most anti-consumer court rulings in history."was handed down by a Fifth Circuit panel composed entirely of judges selected by former President Donald Trump, who pulled the already-conservative appeals court even further to the right during his four years in the White House.
"The Fifth Circuit's decision ignores the long-established and long-accepted practice of funding financial regulatory agencies, and the prior review of many other courts, in order to decree that the funding mechanism of the CFPB is unconstitutional," Weissman continued."If upheld, this decision is a gift to scammers and rip-off artists, payday lenders, and big banks."
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