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On Tuesday, the Supreme Court will hear a case challenging the funding structure of the CFPB. A former FDIC official said it could harm consumers.
The Justices have a chance to tell Congress it can’t shirk its duty by creating regulators insulated from political accountability.
Payday lenders’ challenge to the constitutionality of the agency’s funding has no basis in history and would have chaotic real-world ramifications.
The U.S. Supreme Court on Monday kicks off a new nine-month term featuring major cases ranging from the right of domestic abusers to have guns to the fate of the federal consumer finance watchdog agency, giving its muscular conservative majority fresh opportunities to reshape American law. Its docket features tests of the authority of U.S. agencies including an effort to effectively dismantle the Consumer Financial Protection Bureau (CFPB) and limit the in-house enforcement proceedings of the Securities and Exchange Commission (SEC), the financial markets regulator. The gun rights, CFPB and ...
A case due to come before the U.S. Supreme Court next week has the potential to expose every federal bank regulator to political inference while also jeopardizing Social Security and Medicare, the federal health insurance program, U.S. Senator Elizabeth Warren said on Thursday. The court next week is due to hear arguments in a challenge to the constitutionality of the U.S. Consumer Financial Protection Bureau's (CFPB) funding. Trade groups representing the payday lending industry, which brought the case, argue the U.S. Constitution prohibits the current arrangement in which the Federal ...