Fifth Circuit makes all the right people unhappy in its CFPB ruling

Sen. Elizabeth Warren (D-Mass) is up in arms over an appeals court ruling that found the Consumer Financial Protection Bureau’s funding mechanism to be unconstitutional. Republicans, who have worked for years to clamp down on the CFPB, are cheering the decision. …

Warren, who helped create the CFPB, called the decision “lawless and reckless.”

Republicans, however, lauded the ruling that would grant appropriations power over the agency, arguing that the bureau needs congressional oversight. Sen. Bill Hagerty (R-Tenn.), who serves on the Senate Appropriations Committee, called for Congress to take up his legislation that would bring the bureau under the committee’s purview.