In a bylined article published by The Texas Lawbook, the firm’s David Coale summarizes a recent ruling by the Fifth Circuit Court of Appeals which found that the funding structure of the Consumer Financial Protection Bureau is unconstitutional. While the court’s opinion relies on the concept of originalist principles, David notes that interpretative stance presents its own set of challenges.

If Alexander Hamilton—a financially savvy advocate of a strong federal government—were brought forward in time, it is very much an open question what he would actually think about the appropriations clause in the context of modern-day financial regulation.

Read David’s article (password-protected) in The Texas Lawbook here.