Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Amy Howe: "Review is warranted, the CFPB contended, because the lower court’s ruling “calls into question virtually every action the CFPB has taken in the 12 years since it was created” and, as a result, “threatens to inflict immense legal and practical harms on the CFPB, consumers, and the Nation’s financial sector.” The CFPB urged the justices to take up the case during the 2022-23 term, so that they could issue a decision before their summer recess.

The challengers countered that if the CFPB were correct about Congress’s powers under the appropriations clause, “a single Congress could effectively nullify the Clause by passing a law authorizing the Executive Branch to spend as much public funds as desired in perpetuity for virtually any purpose, unless and until a future Congress could overcome a Presidential veto to retake its power over the purse.” The groups downplayed the CFPB’s concerns about the effect of leaving the 5th Circuit’s decision in place, noting that the ruling below “simply vacated a single regulation that has never been in effect.”

In a brief order on Monday, the justices agreed to review the CFPB’s appeal but declined to fast-track the proceeding."




https://www.scotusblog.com/2023/02/supreme-court-will-review-constitutionality-of-consumer-watchdog-agencys-funding-cfpb/