The Supreme Court said in a 7 to 2 decision that the CFPB's funding structure complies with the Constitution's Appropriations Clause.
The Supreme Court upheld the funding structure for the Consumer Financial Protection Bureau on Thursday, turning aside an ...
The Court highlighted two founding-era agencies—the Customs Service and the Post Office—and described how their fee-based, standing appropriations serve as precedent for the CFPB's funding structure.
The preliminary injunction also linked the fate of the credit card late fee rule with the pending outcome of the CFPB’s funding structure constitutionality case, stating, “If the Court denies ...
Then, last year, the 5th Circuit Court of Appeals ruled that the CFPB's structure is unconstitutional because, instead of an annual congressional appropriation, Congress set the agency's funding ...
Justice Clarence Thomas wrote the majority opinion deeming the bureau's funding structure constitutional. In a 7-2 ruling issued Thursday, the U.S. Supreme Court rejected a challenge to the funding ...
The 2nd U.S. Circuit Court of Appeals, by contrast, found the CFPB’s funding structure constitutional, in a March 2023 ruling, setting up the Supreme Court showdown. “The Bureau’s funding ...
The ruling also overturns a federal appeals court panel’s decision in October 2022 that found the CFPB’s funding structure was unconstitutional, with the Louisiana-based lower court stating ...
International law firm Dorsey & Whitney partner Joseph Lynyak is one of the US’ foremost experts on US financial regulatory ...
Then, last year, the 5th Circuit Court of Appeals ruled that the CFPB's structure is unconstitutional because, instead of an ...