Published 16 days ago

Supreme Court rules Consumer Financial Protection Bureau funding structure is legal

Justice Clarence Thomas, in a 7-2 Supreme Court decision, upheld Congress's funding method for the CFPB, a win for the Biden administration and consumers.
Agencies like the CFPB can draw funds from the Federal Reserve with an annual cap, avoiding financial market disruption.
The Supreme Court rejected a radical theory that would harm American financial markets, ruling 7-2 against the funding's unconstitutionality.

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The Guardian

US supreme court sides with agency curbing predatory lending despite conservative challenge

Court upholds funding design of Consumer Financial Protection Bureau, which was under challenge by payday loan industry

16 days ago·London, United Kingdom

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Associated Press News

Supreme Court sides with the Consumer Financial Protection Bureau, spurning a conservative attack

President Joe Biden says the Supreme Court's rejection of a conservative-led attack that could've undermined the Consumer Financial Protection Bureau is “an unmistakable win" for consumers. The justices ruled Thursday

16 days ago·United States

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abc News

Supreme Court upholds funding structure for Consumer Financial Protection Bureau

The Supreme Court on Thursday issued a ruling upholding the funding structure of the Consumer Financial Protection Bureau, a key consumer watchdog and banking regulator.

16 days ago·United States

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CNN

Supreme Court saves consumer protection agency in fight with payday lenders

The Supreme Court ruled Thursday that the federal watchdog created in response to the 2008 financial meltdown may continue to operate in its current form, brushing aside claims from the payday lending industry that could have severely jeopardized years of consumer-friendly banking regulations.

16 days ago·Atlanta, United States

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KRDO

Clarence Thomas led Supreme Court majority in upholding consumer protections. What that means

Opinion by Steve Vladeck (CNN) — On Thursday, Justice Clarence Thomas wrote for a 7-2 majority of the Supreme Court in upholding the way that Congress funds the Consumer Financial Protection Bureau (CFPB) — handing a major win to the Biden administration and preventing a disaster for consumers. That top line may surprise you, but it shouldn’t. Not because Thomas has secretly become a liberal squish, but because the case only got to the Supreme C…

16 days ago·Colorado Springs, United States

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The Washington Post

Supreme Court rejects broad challenge to CFPB, a consumer watchdog agency

The Biden administration urged the Supreme Court to reject an appeals court decision that cast doubt on Congress’s authority to decide how to fund an agency.

16 days ago

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