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    Supreme Court rejects broad challenge to consumer watchdog CFPB

    • May 17, 2024

    The Supreme Court on Thursday rejected a broad challenge to the Consumer Financial Protection Bureau, reversing a lower-court ruling that would have undermined the watchdog agency Congress created in the wake of the financial crisis to protect borrowers from predatory lenders, junk fees and other abuses.

    In a 7-2 decision written by Justice Clarence Thomas, the court said the CFPB’s funding mechanism is constitutional. The agency draws its budget through profits of the Federal Reserve, not an annual appropriation by Congress.

    This post appeared first on The Washington Post

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      • Inside Biden confidante Steve Ricchetti’s ‘combative’ eight-hour grilling in House Oversight cover-up probe
      • Recall warns some Celsius energy drink cans accidentally contain alcohol
      • Bernie Sanders to force Senate vote on blocking arms sales to Israel
      • New tech-focused MAHA initiatives will usher in ‘new era of convenience,’ improve health outcomes, Trump says
      • Trump admin sanctions Brazilian judge overseeing Bolsonaro coup-plot probe
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