Consumer Advocates Say Supreme Court Must Rebuke 'Harebrained' Attack on CFPB

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'If the Supreme Court follows precedent, it will strike down the Fifth Circuit's decision before it throws our economy into chaos,' said SenWarren after the high court agreed to hear a case involving the constitutionality of CFPB funding.

Maria Langholz, communications director at the online advocacy group Demand Progress,"We are pleased to see that the Supreme Court has agreed to hear this important case and expect a correction of the 5th Circuit's misguided attacks on the CFPB," she said in a statement."In the past twelve years, the CFPB has proven itself as a fierce defender of consumers against unscrupulous creditors that decimated our economy and wreaked havoc on people's lives.

\u201cIf the 5th Circuit is correct that the CFPB is funded unconstitutionally, many other federal agencies\u2014including the Federal Reserve\u2014are also unconstitutional. \n\nSo are federal programs like Social Security and Medicare that are funded in perpetuity. https://t.co/qjVIeiQ465\u201d

 

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