Browsing: Congress passed and the President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act… Drawing on its extensive experience in financial regulation

     The May 16 decision in the case  formally known as Consumer Financial Protection Bureau v. Community Financial Services Association of America LTD, ET AL refuted arguments by the billion-dollar payday lending industry that CFPB was unconstitutional because its funding is derived directly from the Federal Reserve instead of Congress’ annual appropriations.