Fannie Mae (FNMA)

[Robert from yahoo bd]

https://www.jdsupra.com/legalnews/cfpb-files-petition-for-writ-of-4149018/

"In a unanimous decision, the Fifth Circuit held that “Congress’s decision to abdicate its appropriations power under the Constitution, i.e., to cede its power of the purse to the Bureau, violates the Constitution’s structural separation of powers.”

"The lack of congressional involvement in the appropriations process was found to be unconstitutional."

"Since the CFPB is an executive agency with “vast rulemaking, enforcement, and adjudicatory authority over a significant portion of the U.S. economy,” the Fifth Circuit concluded that the lack of congressional review over the CFPB’s “funding apparatus cannot be reconciled with the Appropriations Clause and the clause’s underpinning, the constitutional separation of powers.”