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Letter to the editor: Consumer bureau’s funding scheme finally held unconstitutional

Por: Portland Press Herald Opinion November 05, 2022

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In 2010, the Democratic Obama administration succeeded in authorizing the Consumer Financial Protection Bureau. It did so without setting up a funding mechanism dependent on congressional appropriation, instead giving the bureau an automatic draw against the revenue generated by bank assessments and bond interest gained by the Federal Reserve Bank. In doing this, the Obama administration violated the Constitution’s separation of powers, as the... + full article



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