CFPB Accused of Unlawful Funding Practices

According to a lawsuit filed in the U.S. District Court for the Southern District of New York, The New Civil Liberties Alliance (NCLA) is alleging that Congress unlawfully divested its legislative appropriations power when it gave CFPB the ability to draw funding directly from the Federal Reserve, without annual appropriations from Congress and without oversight from the appropriations committees of Congress.

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February 27, 2020