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ARTICLE · 17 NOVEMBER 2022

CFPB Seeks Cert In Funding Dispute

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As we previously predicted, the Consumer Financial Protection Bureau (CFPB) has asked the Supreme Court to reverse the recent Fifth Circuit decision finding that the agency's funding is unconstitutional.

United StatesFinance and Banking
Ori Lev
Ori Lev
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As we previously predicted, the Consumer Financial Protection Bureau (CFPB) has asked the Supreme Court to reverse the recent Fifth Circuit decision finding that the agency's funding is unconstitutional. In a petition for certiorari filed less than a month after the Fifth Circuit decision, the CFPB asks the Supreme Court to hear the case and decide it this term. The CFPB's petition argues that the Fifth Circuit's conclusion that the agency's funding violates the Appropriations Clause was wrong for numerous reasons. In the CFPB's words:

The court of appeals relied on an unprecedented and erroneous understanding of the Appropriations Clause to hold the CFPB's statutory funding mechanism unconstitutional. Congress enacted a statute explicitly authorizing the CFPB to use a specified amount of funds from a specified source for specified purposes. The Appropriations Clause requires nothing more. The court of appeals' novel and ill-defined limits on Congress's spending

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