In the first challenge to the CFPB, Acima argued that CFPB's investigation of the lease-to-own company is unconstitutional because the Fed does not have earnings to fund the CFPB. The other companies ...

Each of the CFPB’s anomalous fiscal features—indefinite self-funding, discretion to choose any funding level between $0 and $750 million, ability to draw that funding from another insulated ...

CFPB is controlling; (2) that Congress could never have intended for the CFPB to stop operating if the Federal Reserve System lacked profits; and (3) that “earnings” means “revenues.” ...

The legal fight over the CFPB. The legal fight arose from a challenge to a 2017 payday lending rule issued by the CFPB that was brought by a pair of trade associations.

In its response, the CFPB did not address the constitutionality of its funding structure but argued that the defendants’ intention to challenge the CFPB’s funding mechanism could have been ...

A coalition of consumer groups sued the Consumer Financial Protection Bureau and acting Director Rusell Vought for refusing to implement a statutorily-mandated small business data collection rule that ...

The CFPB’s funding mechanism is the subject of the pending challenge by associations of regulated lenders, in an effort to invalidate an agency rule that regulated lenders’ preauthorized ...

Supreme Court Seems Leery Of Challenge To CFPB’s Constitutionality. ByEmily Mason, Former Staff. I cover fintech for Forbes' money team. Oct 04, 2023, 02:50pm EDT Oct 04, 2023, 02:50pm EDT.

The US Supreme Court decided this week to hear a case that will consider the constitutionality of funding for the Consumer Financial Protection Bureau and, in doing so, test the constraints of US ...

The real threat to the Fed would be a judicial decision upholding the CFPB—and thereby letting Congress treat the central bank as the administrative state’s slush fund.

However, conservatives argued that allowing CFPB to get as much as $600 million a year from the Fed rendered the agency unconstitutionally unaccountable to Americans’ elected representatives.

The U.S. Supreme Court has spared the Consumer Financial Protection Bureau from what would have been an existential blow, but consumer finance experts say key battles remain ahead for the watchdog ...