CFPB's structure is unconstitutional: judge

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CFPB’s structure is unconstitutional: judge

CFPB’s structure is unconstitutional: judge

Reuters-

A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts.

The decision by U.S. District Judge Loretta Preska is at odds with a February ruling by the federal appeals court in Washington that upheld the CFPB’s structure.

Preska said the office of New York Attorney General Barbara Underwood, which joined the CFPB in suing New Jersey-based RD Legal Funding LLC, could continue pursuing the case.

[REUTERS]

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