Tag Archives: Elizabeth Warren

Supreme Court Rules On CFPB Constitutionality

The Supreme Court issued a ruling today preserving the Consumer Financial Protection Bureau, but allowing the president to fire its director at will.

The 5-4 decision agreed with the position of Seila Law, a California law firm that sued the bureau, arguing that the CFPB’s leadership structure – in which a sole director could be fired only for cause – violated the Constitution’s separation of powers rule, CNBC reported.

“The agency may … continue to operate, but its Director, in light of our decision, must be removable by the President at will,” Chief Justice John Roberts wrote in the majority opinion. Roberts was joined in the decision by the other four conservative justices, CNBC reported.

Despite the decision that the CFPB director could be removed at will, Sen. Elizabeth Warren (D-Mass.) – who spearheaded the creation of the agency – celebrated the fact that the agency would be preserved.

“Let’s not lose sight of the bigger picture: after years of industry attacks and GOP opposition, a conservative Supreme Court recognized what we all knew: @CFPB itself and the law that created it is constitutional,” Warren tweeted. “The CFPB is here to stay.”

Source: by Ryan Smith | Mortgage Professional America

New York Judge Rules Consumer Financial Protection Bureau An Unconstitutional Construct…

The CFPB was constructed by Elizabeth Warren and her progressive ideologues as an extra-constitutional government agency.  This was entirely by design.

https://theconservativetreehouse.files.wordpress.com/2017/11/leandra-english-nancy-pelosi-elizabeth-warren-and-chuck-schumer.jpg

The CFPB had two primary, albeit unspoken, functions.  First, it was structured as a holding center for fines and assessments against any financial organizations opposed by progressives.  Second, it was a distribution hub for the received funds to be transferred to political allies and groups supportive of progressive causes.

To pull off this scheme Elizabeth Warren et al ensured it was structured to allow no congressional oversight; however, it was also structured to have no executive branch oversight – and the funding mechanism for the CFPB budget was directly through the federal reserve.  The lack of any legislative or executive branch oversight made the entire scheme unconstitutional according to an earlier court decision.

The CFPB defenders then appealed the decision to a select appellate court in Washington DC to continue the construct.  The Warren crew won the appeal; but today, in an unrelated jurisdictional ruling a New York judge affirmed the minority opinion setting up a possible supreme court pathway to get a final decision.

NEW YORK (AP) – The U.S. government’s beleaguered consumer finance watchdog agency is unconstitutionally structured, a judge said Thursday as she disqualified the agency from serving as a plaintiff in a lawsuit.

U.S. District Judge Loretta A. Preska in Manhattan reached the conclusion about the Consumer Financial Protection Bureau in a written decision.

Her ruling related to a lawsuit brought against companies loaning money to former National Football League players awaiting payouts from the settlement of a concussion-related lawsuit and to individuals slated to receive money for injuries sustained when they helped in the World Trade Center site cleanup after the Sept. 11, 2001, terrorist attacks.

She let claims brought by the New York State attorney general proceed, but dismissed those that were brought by the CPFB, saying it “lacks authority to bring this enforcement action because its composition violates the Constitution’s separation of powers.”

In ruling, Preska sided with three judges who dissented from the six-judge majority in a January ruling by the U.S. Court of Appeals in Washington. The majority found that the agency director’s power is not excessive and that the president should not have freer rein to fire that person.  (read more)

CFPB Interim Director Mick Mulvaney has already said the CFPB needs to be disassembled.

Taking the agency down is perfectly ok with the Trump administration.

https://theconservativetreehouse.files.wordpress.com/2017/11/mulvaney-work.jpg?w=1024&h=1024

CFPB Ruled Unconstitutional Again – National Real Estate Post

By Sundance | The Conservative Tree House

CFPB Director Cordray caught using Private Device and NO RECORD OF MESSAGES!!!

Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), used a private device for government communications, and didn’t create appropriate records of those messages with the bureau, according to documents obtained exclusively by The Daily Caller.

A longtime Democrat from Ohio, Cordray has served as head of the CFPB since January 2012, a position he is scheduled to hold through July 2018.

A source told The DC that he submitted a Freedom of Information Act (FOIA) request in August 2016 for more than a year’s worth of text messages on official devices to and from various CFPB staffers.

The bureau responded that there were no records on any “CFPB issued or CFPB reimbursed devices” for any text messages sent or received associated with Cordray.

A recent court decision in October 2016 ruled that the structure of the CFPB is unconstitutional because the president doesn’t have power to fire the director. The CFPB was a creation of Elizabeth Warren and created so that directors can only be dismissed with cause.

It’s not clear if President Donald Trump has the power to dismiss Cordray without cause.

Read more: http://dailycaller.com/2017/01/23/exclusive-cfpb-head-cordray-used-private-device-didnt-create-records-of-messages/#ixzz4WqCQ7SQc