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May 16, 2024
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1 min read
CFA Applauds Supreme Court Decision to Uphold Funding Structure for CFPB
Washington, DC – “Today, the consumers of America won the battle in court.” said Adam Rust, Director of Financial Services for the Consumer Federation of America, “But we fear this fight is long from over. In this ruling, the Court correctly concluded that the CFPB’s funding structure satisfies the Constitution’s Appropriations Clause. Since its beginning in 2011, the CFPB has returned $19 billion to consumers in direct relief. The repeated challenges to its independence and rulemakings from industry reflect the fact that the CFPB has been so successful in fulfilling its mission.”
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