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Scotus to review CFPB funding
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jon-nyc
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Interesting. You may recall this funding structure was designed by Elizabeth Warren for the express purpose of not having it be accountable to congress.

https://www.consumerfinancemon...ase-until-next-term/


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If you think looting is bad wait until I tell you about civil forfeiture.

 
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QuirtEvans
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The Fed is self-funding, and the SEC pushed for self-funding for years, using registration fees (I don't recall whether they succeeded).
 
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Nina
Pinta & the Santa Maria
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Kind of beside the point, but kind of not - for those of you who have Netflix, I highly recommend their short series on Madoff - pretty sure it's just called "Madoff."

After watching that, it's clear that we need not only stronger regulations but stronger oversight on the regulators. The fox guarding the henhouse and all that.
 
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jon-nyc
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I saw that, it was very absorbing. Much I had forgotten or didn’t know.


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If you think looting is bad wait until I tell you about civil forfeiture.

 
Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005Reply With QuoteReport This Post
Amanda
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I watched it recently.

Fascinating (and a downer).


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The most dangerous word in the language is "obvious"

 
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jon-nyc
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It's not clear to me what would happen if they declared the funding mechanism unconstitutional.

Would the Fed have to cease funding immediately? Would CFPB then just bleed out in a few months if Congress didn't appropriate any new monies?

Makes me wonder if this could be one of those instances where Scotus wants to do something but balks based on real-world implications.


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If you think looting is bad wait until I tell you about civil forfeiture.

 
Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005Reply With QuoteReport This Post
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