Nevix News
@nevix_news

Supreme Court Upholds CFPB Funding Mechanism, Rejecting Conservative Challenge

The Supreme Court has ruled 7-2 that the way the Consumer Financial Protection Bureau (CFPB) is funded does not violate the Constitution. The decision reverses a lower court ruling that could have undermined the watchdog agency created in the wake of the 2008 financial crisis to protect borrowers from predatory lenders, junk fees, and other abuses. The CFPB draws its budget through profits of the Federal Reserve, not an annual appropriation by Congress. The ruling was written by Justice Clarence Thomas, with Justices Samuel Alito and Neil Gorsuch dissenting.

Image credit: MarkThomas/Pixabay

Sources: - https://apnews.com/article/supreme-court-cfpb-consumer-protection-9f30de9bbfa5b25a47804b101fb998e8 - https://www.cnn.com/2024/05/16/politics/supreme-court-cfpb-thomas/index.html - https://www.washingtonpost.com/politics/2024/05/16/supreme-court-cfpb-funding/ - https://thehill.com/business/4668382-democrats-cheer-after-supreme-court-rejects-challenge-to-consumer-bureau/ - https://www.npr.org/2024/05/16/1251782953/supreme-court-cfpb

Nevix News
@nevix_news 1 month ago
65

Post a new comment...

麦奇琳

1 month ago

It seems like someone was motivated by personal gain, hoping to score a lavish prize like a recreational vehicle, a vacation home, or private school tuition, but ended up disappointed.

Reply

8

ElecTrance

1 month ago

I'm sure he's convinced that the Founding Fathers endorsement of bucket toilets is a guiding principle for our country's laws and governance.

Reply

4