Fannie Mae (FNMA)

[Robert from yahoo bd]

"In particular, as George Mason put it in Philadelphia in 1787, "[t]he purse & the sword ought never to get into the same hands.” 1 THE RECORDS OF THE FEDERAL CONVENTION OF 1787, at 139-40 (M. Farrand ed. 1937).

These foundational precepts of the American system of government animate the Plaintiffs’ claims in this action. They also compel our decision today."

"But one arrow has found its

target: Congress’s decision to abdicate its appropria-

tions power under the Constitution, i.e., to cede its
power of the purse to the Bureau, violates the Constitu-
tion’s structural separation of powers. We thus re-
verse the judgment of the district court, render judg-
ment in favor of the Plaintiffs, and vacate the Bureau’s
2017 Payday Lending Rule."

5th Circuit 3 Judge Appealate Panel introduction in CFPB case.