There’s no more prominent target for the administration’s Friends of the Plutocrats deregulation frenzy than the Consumer Financial protection Bureau, Senator professor Warren’s brainchild that was born out of the days in which people destroyed most of the world economy and stole the rest, and then got paid by the United States government for having done so. The CFPB was set up to give ordinary folks at least a fighting chance against a financial-services industry possessed of the fundamental humanity of a forest fire. And it was a project of the Obama Administration, so that was another strike against it.

The current administration has virtually shredded the bureau. They put Mick Mulvaney in charge of it, and he not only has worked to destroy its regulatory mission, but also actively arranged things so that the CFPB becomes a defender of the very financial institutions it was created to keep in line.

The embattled agency got something of a reprieve on Thursday when a federal appeals court ruled that its basic structure was constitutional, turning back yet another administration attempt to defang the CFPB.

Although the Supreme Court could have the ultimate say, Wednesday’s ruling upholds the broad powers granted to the bureau’s director by Congress to oversee mortgages, credit cards and other financial products. Republicans and business groups have fought aggressively to reduce the bureau’s authority, arguing its aggressive actions have restricted access to credit. But the calculus has changed since President Trump took office, said Alan S. Kaplinsky, head of the consumer financial services group at law firm Ballard Spahr.

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