Released: May 16, 2024

Supreme Court rejects challenge to consumer watchdog’s funding

Source: Adam Liptak, N.Y.Times (Paid Registration)

The Supreme Court rejected a challenge to the way the Consumer Financial Protection Bureau is funded, one that could have hobbled the bureau and advanced a central goal of the conservative legal movement: limiting the power of independent agencies.

Had the bureau lost, the court’s ruling might have cast doubt on every regulation and enforcement action it had taken in its 13 years of existence, including ones concerning mortgages, credit cards, consumer loans and banking.

 

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