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Mick Mulvaney

Federal judge rules that consumer protection bureau is unconstitutional

Federal judge rules that consumer protection bureau is unconstitutional

A New York federal judge ruled Thursday that the structure of the Consumer of Financial Protection Bureau is unconstitutional and that the watchdog agency should be eliminated.

Senior U.S. District Judge Loretta Preska threw out the bureau's lawsuit against a New Jersey company that the bureau had accused of scamming former NFL players and Sept. 11 emergency medical workers out of millions of dollars.

Preska's ruling contradicts a decision by a U.S. appeals court on the issue this year and increases the likelihood that the CFPB's constitutionality could become fodder for the Supreme Court. Noting that the decision by the U.S. Court of Appeals for the District of Columbia...

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