• 424 - When Did the Federal Reserve become the National Treasury?

  • Jun 3 2024
  • Length: 16 mins
  • Podcast

424 - When Did the Federal Reserve become the National Treasury?

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  • Summary

  • Article I, Section 9, Clause 7 of the Constitution states “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law;” That seems pretty straight forward. So how could Congress establish a government agency funded not by appropriations from the treasury, but by fees paid to another federal entity? This was the question brought to the Supreme Court in the case CFPB v. Community Financial Services Assn. of America. Sadly, it seems that the Supreme Court once again showed they have a hard time reading and understanding the English language.
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Political Science
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