[Ed. – Interim Director Mick Mulvaney will be heartbroken.]
A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, meaning that the agency cannot pursue a lawsuit against a company that advances money to people awaiting settlement payouts.
The ruling also disagrees with a previous en banc decision made the D.C. Court of Appeals in January that said the structure was legal (via Politico):
The ruling was largely along ideological lines, with one George W. Bush appointee joining all the Democratic-appointed judges in upholding the consumer bureau’s structure. The three dissenting judges were all Republican appointees.
So, does this mean the CFPB is on life support? I know a lot of people hope so. …
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