This is a series of

I'm John Batchefer.

During and following the Great Recession of 2009,2010, the Congress moved in the Dodd-Frank legislation to create

the Consumer Financial Protection Bureau known as the CFPB. Most recently here, the Fifth Circuit in 2022

has ruled that the creation of the CFPB

was unacceptable and unprecedented with the word use because of its funding.

The funding is critical to the centerpiece of a conversation that Richard Epstein has with the Supreme Court

past, the Supreme Court present, Supreme Court

future about the creation of something unprecedented is as the Fifth Circuit said.

That is an entity of government that is not beholding to the U.S. Congress in any fashion that we can see because of its

funding. Richard, a very good evening to you. The Fifth Circuit said

unprecedented and now the CFPB is looking to be blessed by the Supreme Court in a recent decision.

What is the mechanism that is at the heart of this controversy?

Good evening to you.

Yes, there's a big question that says every appropriation must begin with an appropriation from

Congress.

What happened in this particular case is that the Congress of the United States essentially

said we are hereby authorized the following kind of an appropriation. We are not

giving you any direct money. What we're instructing the Federal Reserve Bureau.

A Federal Reserve to do is to take some fraction of the revenues

that it says and to set them aside.

And these revenues will then be appropriated to this

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