Tag Archives: Constitution

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, resulting in the court's decision to deem their funding structures unconstitutional.

A recent report is linking a higher than average foreclosure rate with tax assessments that may surpassed the constitution limit.

The CFPB attempted to block Ocwen’s expediting attempt by telling a Florida federal court to deny Ocwen’s attempt at fast-tracking its constitutional challenge against the agency’s structure. Ocwen had previously stated its opinion of the CFPB’s structure, saying in a release that it “believes that the CFPB is unconstitutionally structured, because it vests too much unfettered power in the hands of the CFPB’s Director and the Bureau itself, without any meaningful oversight by the President or Congress”

“The most powerful and least accountable Washington bureaucracy in history” is what Financial Services Committee Chairman Jeb Hensarling called the Consumer Financial Protection Bureau in a blog post on Tuesday. In the post, Hensarling acknowledges the bureau’s important mission, but notes the shortcomings that it has faced.

On Friday, the Consumer Financial Protection Bureau filed a brief defending the constitutionality of its single director structure, which has been called into question several times through the course of its ongoing case against PHH Corp. The brief, filed in advance of oral arguments, stated that the CFPB’s leadership model was not a violation of the Constitution’s separation of powers clause.