SCOTUS case hangs over the fate of the Consumer Financial Protection Bureau
February 28, 2023
The U.S. Supreme Court agreed to hear a case that could hobble, if not outright end, the Consumer Financial Protection Bureau, created as part of the 2010 Dodd-Frank Act to protect American consumers in the wake of the financial crisis. An earlier case decided by the U.S. Court of Appeals for the Fifth Circuit in New Orleans ruled that the federal agency’s funding violated the Appropriations Clause of the Constitution, that “no money shall be drawn from the Treasury, but in consequence of appropriations made by law.”
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