In response to the Fifth Circuit Court of Appeals ruling that the Consumer Financial Protection Bureau’s independent funding structures are unconstitutional, NCRC President and CEO Jesse Van Tol released the following statement:
“Ever since it was created, the CFPB has been a forceful and uniquely effective guardian of the American people’s right not to get cheated. And ever since it was created, cynical and backward-thinking forces in our political and legal systems have been trying to tear the agency down. This ruling, which ignores a century of precedent for insulating regulators from political gamesmanship, is just the latest episode in a decade-long political crusade to kneecap the agency so that the worst actors in our economic system can go back to preying upon working-class families.”
