CFPB Funding Mechanism Faces Constitutional Scrutiny in U.S. Supreme Court
The constitutionality of the Consumer Financial Protection Bureau (CFPB)’s funding mechanism is under scrutiny, with the U.S. justices appearing somewhat divided on the issue during Tuesday’s oral argument. The discussion has teetered on the challenges to Congress’s decision to provide funding for the CFPB through the Federal Reserve, as opposed to the typical annual appropriations…