Elizabeth Warren’s monster, the Consumer Financial Protection Board (CFPB), has had a couple of close calls with extinction. In October 2016, a three-judge panel of the DC Circuit ruled the structure unconstitutional for a very good reason: it is. The way it is established it combines the authority to make what amounts to laws, enforce the laws, and adjudicate cases under those laws. The agency is free from Congressional oversight and it doesn’t even get its appropriation from Congress, it simply draws from the Federal Reserve whatever sum it desires. In January 2018, the DC circuit sitting en banc reversed the panel. But, as Jonathan Adler at Volokh Conspiracy writes:
In my view, Supreme Court review of the underlying question will come relativey soon, and the D.C. Circuit’s decision is unlikely to prevail. Recent Supreme Court decisions, such as that in Free Enterprise Fund, suggest a majoirty of justices on the Court would like to contain precedents such as Humphrey’s Exectuor and are unlikely to bless the CFPB’s unique structure. If I am right, this means a mjaority of the Court is likely to embrace the position adopted by Judge Kavanaugh or Judge Griffith, not that laid out by Judge Pillard. Time will tell — and we will need time to thoroughly review the D.C. Circuit’s latest handiwork.
Earlier today, a federal judge for the Southern District of New York also concluded the CFPB is unconstitutional, below is from page 103...
https://www.redstate.com/streiff/2018/06/21/federal-judge-just-kill-consumer-financial-protection-bureau/?utm_source=Twitter&utm_medium=social&utm_term=federal-judge-just-kill-consumer-financial-protection-bureau
