EUGENE, Ore. (CN) — A group of state attorneys general urged a federal judge to order the director of a federal agency tasked with protecting consumers in the financial marketplace to request funding for the agency from the Federal Reserve.
“The question plaintiffs are asking the court to answer is whether the director of the Consumer Financial Protection Bureau, who is the officer of the United States charged by Congress with carrying out CFPB’s mission, has the discretion to undermine that mission by declining to request funding for the CFPB from the Federal Reserve,” said Stephen Thompson, attorney with the Office of the New York State Attorney General. “We believe the answer to that question is clearly no.”
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