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National Mortgage News: CFPB Structure Is Unconstitutional, Court Rules
Karl Frisch, the executive director of Allied Progress, an advocacy group, said he expects the CFPB will appeal and the decision will be overturned by the D.C. Circuit. He also criticized Kavanaugh for handing down what he described as a partisan ruling.
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Housing Wire: “A Good Day for Democracy” or a “Reckless Decision”: Mortgage Industry Reacts to Watershed PHH-CFPB Ruling
The left-leaning group Allied Progress called out the judges in the case and questioned the legitimacy of the decision. “This decision really was no surprise, Allied Progress Executive Director Karl Frisch said.
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Common Dreams: Ruling Against Wall Street Watchdog Decried as ‘Reckless and Partisan’
A federal appeals court’s ruling on Tuesday that the structure of the CFPB is unconstitutional has been decried as a “reckless and partisan” attack on the independent watchdog agency.
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Politico: Conservatives Win Big in Landmark Ruling Against Consumer Finance Protection Bureau
Consumer advocates called the opinion politically charged, noting that Kavanaugh and the other judges on the case, Karen LeCraft Henderson and A. Raymond Randolph, are Republican nominees.
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Washington Times: Court Rules Consumer Bureau’s Power ‘Unconstitutional’ in Setback to Obama
Consumer groups were enraged, accusing Judge Kavanaugh of pursuing an ideological agenda in his ruling against the CFPB.
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Anti-CFPB Ruling, Result of Judge Kavanaugh’s Partisan Agenda
Kavanaugh’s reckless, partisan decision was written to appease his Wall Street cronies. There is no doubt that it will be reversed.
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With Public Comment Ending Tonight, CFPB Must Scrutinize Suspicious Pro-Payday Submissions
Individually submitted “personal” public comments defending industry contained many of the exact same sentences.
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Politico: Pro-Payday CEI Report Authored by Disgraced Payday Attorney
Allied Progress’s Karl Frisch emails on the CEI report in Tuesday’s MM: “I’m not sure if you noticed but the report is actually authored by Hillary Miller, a payday lending industry attorney.”
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CBS Money Watch: The Fight Over New Payday Lending Rules Gets Nasty
Consumer advocates are crying foul, saying the public comment submissions for the CFPB’s payday lending rule repeat an alarming number of identical passages.
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Counter Punch: How the Payday Loan Industry is Obstructing Reform
With the CFPB proposals, the payday loan industry is not only asserting its own interests to stop the reforms contrary to public interest, but they are manufacturing public opinions to distort popular consensus on the guidelines in their favor.