Stay updated with breaking news from Cfpb. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A ruling against the agency in a case now before the court would “likely throw the economy into recession,” financial scholars argued.
When the Supreme Court ruled against the federal agency that protects consumers from financial scams in 2020, it let the agency keep operating, opting for “a scalpel rather than a bulldozer in curing the constitutional defect.”
The U.S. Supreme Court is set on Tuesday to hear a challenge to the funding structure of the Consumer Financial Protection Bureau (CFPB), a consumer watchdog established after the 2008 global financial crisis, in the first of several cases during its new term that could curb the power of federal agencies. President Joe Biden's administration is appealing a lower court's ruling that found that the CFPB's funding design - drawing money each year from the Federal Reserve instead of from budgets passed by lawmakers - violates a constitutional provision giving Congress the power of ...
The Supreme Court justices at oral arguments Tuesday appeared hesitant to upend the Consumer Financial Protection Bureau (CFPB) by finding the agency’s funding mechanism unconstitutional. The case marks one of the biggest legal threats to the CFPB since its inception just over a decade ago, but the high court’s liberals and several conservatives voiced skepticism…
The Supreme Court’s oral arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America fell along familiar lines. One side said it had the weight of text and historical practice dating back to the early republic behind its legal reasoning. The other side offered mostly policy-based arguments for its position, asking the justices to read something into the Constitution that wasn’t explicitly there. The only twist was which side was making which argument.