Released: October 02, 2023

The Supreme Court could toss the CFPB’s consumer protections

Source: Helaine Olen, Washington Post Opinion (Paid Registration)

On Tuesday, the Supreme Court will hear a case filed by a trade group of payday-loan lenders against the CFPB. In the worst-case scenario, this could lead to not just an end to payday-loan regulations, the continued halting of CFPB cases across the country, or the CFPB’s needing to find a new funding source. It could lead also to much of the agency’s past work being declared invalid.

That’s the thing about the CFPB. The work sounds kind of small-bore and technical — personal finance concerns can come across that way. But it’s important to the finances of 330 million Americans, as well as extremely threatening to many in the financial-services industry.

Read Full Article: The Supreme Court could toss the CFPB’s consumer protections