Is the CFPB Constitutional? Corona Virus Modeling and WeSERV Advocacy

The CFPB – for several years the question of whether the CFPB, also known as the consumer financial protection bureau, was constitutional as created by the Dodd/Frank Act. At question was the structure of the agency and its status as an Independent Agency, unanswerable to the President or any elected official, thus making it its own branch of government.

On June 29th, the U.S. Supreme Court handed down its decision in Seila Law v CFPB. Last year NAR submitted an Amicus Brief arguing the director construct of CFPB is unconstitutional, but requesting the Court apply the severability clause and uphold the agency.

Last week the Court decided to take the case of Collins v Mnuchin, a case challenging the constitutionality of the FHFA with its similar structure to CFPB. You can read more about Seila Law v CFPB, the FHFA case and the background cases at the Is the CFPB Constitutional blog post.

Corona Virus and REALTORS® – NAR has put out a REALTOR® Resiliency Report and will updating it frequently. You can find the report at nar.realtor.

Corona Virus: You can read the CDC modeling outline for May 2020 and the updated modeling for July 2020 at the CDC.gov website.

Candidate Interviews – Our candidate interview workgroups for Pinal and West Valley completed their candidate interviews in June as did the Southeast Valley Chapter committee. You can find a list of the candidates the association endorsed on the weserv.realtor website and on www.weservgad.org. Arizona Association of REALTORS® announce their endorsements as well. You may find those on aaronline.com.
www.weservgad.org has a blog with all the links to these endorsement lists.

Rental Eviction Moratorium – the Governor chose to extend the rental eviction moratorium to expire on October 31, 2020. As part of the Executive Order, the Governor announced $5 million to foreclosure prevention for property owners who rely on rental income.

AAR’s Government Affairs Director, Matthew Contorelli, was in meetings with the Governor and his staff discussing the various impacts of the extension and suggesting other solutions. You can read more about AAR’s advocacy on this issue at aaronline.

WeSERV GAD: Advocating for private property rights, the right to private contract and YOUR business!