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Supreme Court upholds CFPB funding mechanism, rejects conservative challenge

The Supreme Court on Thursday rejected a broad challenge from the Consumer Financial Protection Bureau, overturning a lower court ruling that would have undermined the watchdog agency created by Congress 12 years ago.

The CFPB case is one of several cases heard by the Supreme Court that challenge the power of federal agencies, long the target of conservatives concerned about regulation and government bureaucrats they view as unaccountable. return to the public. In a 7-2 decision written by Justice Clarence Thomas, the court declared constitutional the bureau’s funding mechanism, which is based on Federal Reserve profits rather than an annual appropriation.

washingtonpost

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