Congressman Blaine Luetkemeyer, Chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit released the following statement on yesterday’s federal court ruling that the structure of the Bureau of Consumer Financial Protection is unconstitutional:

“The decision by the U.S. District Court for the Southern District of New York validates what I have said all along: the Bureau is not only poorly designed and unaccountable but also unconstitutional.  Its structure must be changed.  This decision calls into question all enforcement actions and litigation the Bureau has brought to date or could bring in the future.  An agency accountable to no one with unlimited resources and powers goes against the very principles on which this nation was founded.”

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