Connect with us

Hi, what are you looking for?

World News

Supreme Court rejects broad challenge to consumer watchdog CFPB

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

You May Also Like

Business

Is being nice holding you back at work? One viral TikTok has young workers up in arms about the perils of being pleasant in...

Tech News

Photo by Becca Farsace / The Verge Microsoft is starting to improve the experience of downloading Windows store apps from the web. The software...

Business

Boeing and Alaska Airlines have separately denied any legal responsibility for the injuries allegedly caused to dozens of passengers after a door-plug blew out...

World News

Sen. Ted Cruz (R-Tex.) found himself in the most unusual place Thursday. He was the man in the middle, literally and figuratively, standing in...