Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited, Brief of 132 Members of Congress as Amici Curiae in Support of Respondents

Abstract

The Court need not determine which particular aspect of the CFPB’s funding scheme is the most problematic. This is the easy case. The CFPB “is in an entirely different league” from other entities when it comes to its insulation from Congress to the point that the CFPB currently operates as “a sort of junior-varsity Congress” setting its own funding levels in perpetuity. Such insulation means that Congress itself is not determining the CFPB’s funding.

The Court should affirm the judgment below, which will return the matter of the CFPB’s funding to the normal political and legislative channels, as Article I and the Appropriations Clause require.

Keywords: Congress, Spending, Consumer Financial Protection Bureau, Separation of Powers, Appropriations, Dodd-Frank, Oversight

JEL Classification: H1, H10, H11, H59, H61, H83, K23,