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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.
On Thursday, Allied Progress executive director Karl Frisch declared: “It’s time for our Representatives in Congress to speak up and let us know where they stand. Do they support the CFPB’s proposed rule, or not? Will they champion the needs of their constituents and those caught in the payday lending debt trap or that of the predatory lenders who fill many of their campaign bank accounts?”