State AGs battle over CFPB constitutionality
State attorneys general from both parties agree that the U.S. Supreme Court should consider whether the CFPB’s current funding scheme is legal.
But that’s where the agreement ends.
The state officials vehemently disagree over the process for funding the agency, which draws money from the Federal Reserve and is not subject to the annual appropriations process.
Republican attorneys general—no fans of the bureau—want the Supreme Court to consider the case and decide the agency should be funded by annual appropriations.
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