Supreme Court: CFPB funding doesn't violate Constitution
WASHINGTON (AP) — The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau.
The justices ruled 7-2 that the way the CFPB is funded does not violate the Constitution, reversing a lower court and drawing praises from consumers. Justice Clarence Thomas wrote the majority opinion, splitting with his frequent allies, Justices Samuel Alito and Neil Gorsuch, who dissented.
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 bureau rule that limits their ability to withdraw funds directly from borrowers’ bank accounts. It’s among 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.
Related articles
Judge dismisses felony convictions of 5 retired military officers in US Navy bribery case
SAN DIEGO (AP) — A federal judge on Tuesday dismissed the felony convictions of five retired militar2024-05-22Flame for Hangzhou Asian Para Games Lit in Guangzhou
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22Beijing Greets the 3rd Belt and Road Forum for Int'l Cooperation
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22Ice Rink Opens to Public in Tianjin, N China
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22Biden to release 1 million barrels of gasoline in bid to lower prices at pump
WASHINGTON (AP) — The Biden administration said Tuesday that it is releasing 1 million barrels of ga2024-05-224th Asian Para Games Opens in Hangzhou, E China
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22
atest comment