The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau, reports the AP . The justices ruled 7-2.
The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau, reports the AP. The justices ruled 7-2 that the way the agency is funded doesn’t violate the Constitution, reversing a lower court. The CFPB was created after the 2008 financial crisis to regulate mortgages, car loans, and other consumer finance. The case was brought by payday lenders who object to a CFPB rule in one of several major challenges to federal regulatory agencies on the docket this term for a court that has for more than a decade been open to limits on their operations.
