✉news WorldLaw & Courts first seen 8 h ago, last 17 min ago, peak #4
Court Rejects Justice Department Interpretation of CFPB Funding
Original: Third District Court Rejects OLC’s Interpretation of CFPB Funding Statute
A federal district court has rejected the Justice Department's Office of Legal Counsel interpretation of the statute governing how the Consumer Financial Protection Bureau is funded. The ruling challenges the legal basis for the bureau's current funding structure, which draws money directly from the Federal Reserve rather than congressional appropriations. The decision is expected to feed into ongoing litigation and political disputes over the CFPB's independence and finances.
Why now: The ruling directly challenges the legality of the CFPB's funding mechanism, a live political and legal controversy.
CFPBOffice of Legal CounselThird District CourtDepartment of Justice
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Evidence
- Third District Court Rejects OLC’s Interpretation of CFPB Funding Statute · Consumer Finance Monitor
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