The Consumer Financial Protection Bureau case is one of several the Supreme Court heard this term that challenge the power of federal agencies, long a target of Republicans.
By Ann E. Marimow, The Washington PostThe 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 created by Congress 12 years ago.
The case involved a decision by the conservative U.S. Court of Appeals for the 5th Circuit that said the funding mechanism Congress adopted to ensure the CFPB’s independence was unconstitutional. A panel of three judges, all nominated by President Donald Trump, ruled in 2022 that the mechanism violated the Constitution’s command requiring congressional appropriation of money. The decision said the agency’s insulation from congressional committees doubled the violation.
The CFPB said it has recovered more than $20 billion for consumers since it was created by Congress in response to the 2008 financial crisis, putting scattered federal consumer protections under one structure. Sen. Elizabeth Warren , who at the time advised the Obama administration, played a lead role in the legislation.
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