Charleston, WV (WOAY) – Attorney General Patrick Morrisey calls on the Consumer Financial Protection Bureau (CFPB) to follow the U.S. Court of Appeals ruling to stop using unconstitutionally appropriated funds.
The Court of Appeals ruled last week that the federal agency tasked with protecting consumers from predatory lending is unconstitutional.
The CFPB receives funding from the Federal Reserve. However, the bureau would require an annual Congress-approved budget if the court ruling stands.
“I am calling for the agency, just like all federal agencies, to follow the Constitution’s directive,” Attorney General Morrisey said.
“The court ruled the agency does not operate in line with basic constitutional limits. It must cease doing ‘business as usual’ given that most of its operating funds are derived from an unconstitutional funding scheme.”
