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Lawsuit Challeges the Constitutionality of Liz Warren's Consumer Financial Protection Bureau

by: yankeepundit

Fri Jun 22, 2012 at 06:02:04 AM EDT


(Happy Birthday Liz!!! - promoted by Rob "EaBo Clipper" Eno)

Powerline reports that a lawsuit was filed yesterday challenging the constitutionality of Liz Warren's Consumer Financial Protection Bureau  (CFPB).  The lawsuit alleges that the CFPB has no meaningful congressional or judicial oversight.   http://www.powerlineblog.com/a...

The lawsuit's major claim is that the formation and operation of the Consumer Financial Protection Bureau (CFPB) violates the constitution because its director (or czar) is not accountable to Congress or the President, and the decisions of the agency are not even subject to judicial review. The CFPB escapes meaningful congressional oversight because its budget - some $400 million - comes from the Federal Reserve. As for the president, he cannot overrule actions taken by the CFPB, and can only remove the director "for cause," e.g., inefficiency, neglect of duties, or malfeasance, not disagreement over substance. Finally judicial review is limited because courts are required by the legislation to defer to the CFPB regarding the meaning or interpretation of any provision of federal consumer financial law.

These features of Dodd-Frank raise obvious concerns about separation of powers and checks and balances, i.e., accountability. The plaintiffs point out that Dodd-Frank grants the CFPB sweeping authority over consumer financial product and services firms. For example, the CFPB has the open-ended power to determine which lending practices are "unfair," "deceitful," or "abusive" under the Act. It can also unilaterally exempt any class of covered persons from rules it promulgates.  

The complaint is available here: http://www.scribd.com/doc/9786...

yankeepundit :: Lawsuit Challeges the Constitutionality of Liz Warren's Consumer Financial Protection Bureau
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Seeing as the CFPB was Elizabeth Warren's idea..... (0.00 / 0)
that would imply that she has a thoroughly distorted sense of government.  She apparantly feels that bureaus of government can be created without any kind of congressionnal or executive branch oversight.  The CFPB just kind of exists and is under the control of only the Director, which was supposed to be her!

Geez, wouldn't it be nice to create a bureau of government that can do whatever the hell it wants?  Big government nanny state type.  That is what Granny Warren is all about....

We are headed for a 'Fiscal Cliff' and the country just elected a dope whose motto is 'Forward'.  


Since when (0.00 / 0)
does the Constitution matter to Washington DC?  They'be been usurping State and individual powers for almost 100 years since in invention of the "general welfare" clause that does not exist.

"I acknowledge having racist and classist and sexist feelings of white male superiority." -John Howard

Since this is the latest Warren thread: (0.00 / 0)
I threw up in my mouth a little bit.

Elizabeth Warren for President? Democrats' Barren 2016 Bench

http://www.theatlantic.com/pol...

It tells you something about Warren's status as a rock star of the left that before the Massachusetts Senate candidate has even won her first election she's being pumped as a future presidential candidate. But it tells you even more about the status of the Democratic farm team. There are precious few tabbed for political stardom in the Democratic ranks the way Obama was starting in 2004 or the way Marco Rubio is adored on the right today.

The bench of up-and-coming talent in the Republican Party is an instructive contrast. A recent straw-poll ballot for vice presidential choices at the Conservative Political Action Conference in Chicago featured 22 names, from retreads like Newt Gingrich to fresh faces like Rubio to newly minted political stars like Wisconsin Gov. Scott Walker. Nine major Republican candidates participated in this year's presidential primary, and while it was seen as a weak field overall, Republicans dismayed by the spectacle of Michele Bachmann and Herman Cain as momentary front-runners comforted themselves by contemplating the party's many future stars in the Senate, House, and governorships. Many of those rising stars, like New Jersey's Chris Christie, Louisiana's Bobby Jindal and Virginia's Bob McDonnell, have already begun building relationships with their party's national base by appearing at party events outside their home states or on the busy circuit of conservative activist conferences.

Democratic insiders, on the other hand, would be hard pressed to come up with 10 names for 2016, much less 20. The very short list of newcomers tabbed for big things seems to consist of Cuomo, Maryland Gov. Martin O'Malley, and Montana Gov. Brian Schweitzer, but they are far from household names even among Democratic die-hards; you are just as likely to hear speculation about another candidacy for Clinton or Biden -- who would be 69 and 74, respectively, at the time of their 2017 inaugurations.

I pressed Ellison for names for 2016, and he thought for a moment. "If we can get Elizabeth Warren through in Massachusetts, she could end up being a presidential candidate," he finally said. "She's super."


G.O.P. Growth. Opportunity. Prosperity. For all Americans.

Karl (TLC)Weld


I honestly can't figure out the attraction..... (0.00 / 0)
Liberals adore her even though she is up to her neck in foolishness such as her claims to be Indian; she is a flipping foreclosed houses while complaining of bankruptcy in America, she lies about her parent's eloping and constantly throws her father under the bus for all the family financial troubles, etc, etc, etc.  

Furthermore, what has she accomplished?  She wrote a few books, which admittedly were well received.  She had a newsletter and started a federal government bureau that seemingly has questionable authority.  Much of her professional research work has been panned by critics.  She has never done a damn thing for middle class America even though it is the siren song of all her advertising.  

What has Elizabeth Warren actually 'done' for middle class families?  Can anyone name a single thing she 'did' for middle class families?  

Calling all middle class families!  What has Elizabeth Warren done for you lately, or ever?  

We are headed for a 'Fiscal Cliff' and the country just elected a dope whose motto is 'Forward'.  


[ Parent ]
Liawatha (0.00 / 0)
still going with the "I'm a Cherokee and my parents had to elope" sludge in Globe chat.

G.O.P. Growth. Opportunity. Prosperity. For all Americans.

Karl (TLC)Weld


Lack of standing. (0.00 / 0)
Dismissed.

---
"That it ceased to exist, I'll grant you, but whether or not it failed cannot be definitively said." - Metropolitan (1990)


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