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WASHINGTON — (TNS) The Supreme Court upheld the funding structure for the Consumer Financial Protection Bureau on Thursday, turning aside an argument that would have restricted Congress’ power to set
The Supreme Court's decision this week upholding the funding structure of the Consumer Financial Protection Bureau surprised some court watchers since it pinned Justice Clarence Thomas and Justice Samuel A. Alito Jr. against each other -- with Justice Thomas authoring the majority opinion and Justice Alito authoring the dissent.
The Supreme Court said in a 7-2 decision that the Consumer Financial Protection Bureau's funding structure complies with the Constitution's Appropriations Clause.
The Supreme Court decision protects the CFPB from the potentially crippling risk that Republicans in Congress will block annual funding for the agency.
The Supreme Court on Thursday upheld the funding structure of the Consumer Financial Protection Bureau, a massive win for an agency constantly under fire from conservative corporate interest.