Last fall, a Fifth Circuit Court of Appeals panel comprising three Trump appointees held that the agency’s funding model is unconstitutional because the spending comes from the Fed and thus from bank fees, rather than being appropriated annually by Congress or the agency.
Separately, the CFPB has permanently banned RMK Financial, also known as Majestic Home Loans, from the mortgage lending industry after the company allegedly continued to falsely market itself to military families despite a previous CFPB sanction.