A federal judge has just ruled that the CFPB is unconstitutionally structured and therefore can’t bring a case against firm accused of scamming both 9/11 responders and ex-NFL players out of settlement monies:
JUST IN: Federal judge in New York rules the structure of Consumer Financial Protection Bureau is unconstitutional pic.twitter.com/J11EDNmzKb— Reuters Business (@ReutersBiz) June 21, 2018
New: A federal judge in Manhattan has struck down the @CFPB's independent, single-director structure as unconstitutional.— Ryan Barber (@cryanbarber) June 21, 2018
This ruling comes in a case against a firm accused of scamming 9/11 responders and ex-NFL players out of settlement $$$
Full opinion: https://t.co/gT2uAwygQJ
According to the conclusion in the ruling:
Because Plaintiff Consumer Financial Protection Bureau is unconstitutionally structured and lacks authority to bring claims under the CFPA, the Clerk of Court shall terminate Plaintiff Consumer Financial Protection Bureau as a party to this action.
They’ve been terminated from the case. Wow.
According to what I’ve read, the original lawsuit was brought by both the CFPB and the NY AG back on Feb 7, 2017, only a couple weeks into the Trump administration. In August of last year, RD Legal Funding was seeking to dismiss the lawsuit on the basis that the structure of the CFPB was unconstitutional. If I’m reading it correctly, that motion to dismiss was denied, and instead the judge terminated CFBP from the case.
Mark Levin essentially predicted this would happen back in 2012 under Obama when he suggested then that the CFPB lacked constitutional authority:
Here’s the ruling in case you want to read it: