Elizabeth Warren is not going to like this news one bit. It seems a federal judge has ruled that the Consumer Financial Protection Bureau, which Warren ran prior to becoming a senator, is not constitutional.
Warren was already very angry that Trump appointed Mick Mulvaney to run the CFPB, this news might send her over the edge.
The Washington Examiner reports:
Consumer bureau setup defies Constitution, federal judge rules
The structure of the Consumer Financial Protection Bureau is unconstitutional, according to federal district Judge Loretta Preska of the Southern District of New York.
Preska ruled Thursday that having the agency’s setup as an independent agency headed by one director who can only be removed by the president for wrongdoing defies the Constitution.
Additionally, Preska also determined that the section of the 2010 Dodd-Frank Act that created the agency should be cut.
“I would strike Title X in its entirety,” the ruling claims.
The decision goes against a previous ruling from a federal appeals court in Washington in January, increasing the chances the case will head to the Supreme Court.
Stay tuned on this case. If the CFPB is targeted for destruction, it will set off a firestorm on the left with Warren leading the charge.