Supreme Court weighs CFPB legality in case challenging funding of financial watchdog

Formed amid the 2008 financial crisis, the CFPB's purpose is to protect consumers from predatory behavior from banks and other institutions while enforcing consumer financial laws. Sen. Elizabeth Warren is credited with conceiving the agency and has been sounding alarms about the oral arguments.

Last year, the 5th Circuit Court of Appeals, considered one of the most conservative appellate courts in the nation, ruled that the CFPB's funding structure is unconstitutional. Joseph Lynyak is a partner at the international firm Dorsey & Whitney and is on the fence about the plaintiffs' argument, telling the Washington Examiner the appropriations clause"has a long history of permitting Congress to fund governmental functions through what are essentially user fees," citing the U.S. Postal Service as one example.

For Alito, it's his one-time 2008 fishing trip to Alaska with billionaire Paul Singer that prompted Accountable.US President Caroline Ciccone to call for him to step aside. On Thomas's end, RDP said a recent report by the nonprofit outlet ProPublica, revealing his appearance at Koch Network events, should disqualify him because the network"spent years lobbying to gut" the law that created the CFPB.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

| High Noon for the CFPB at the Supreme CourtThe Justices have a chance to tell Congress it can’t shirk its duty by creating regulators insulated from political accountability.
Source: WSJ - 🏆 98. / 63 Read more »

Supreme Court to hear CFPB case Tuesday, with agency's future in the balanceThe Supreme Court will hear arguments Tuesday in a case involving the CFPB and how it is funded.
Source: CBSNews - 🏆 87. / 68 Read more »

Supreme Court Set to Hear Challenge to CFPB Funding ModelSee multiple perspectives from Reuters, Wall Street Journal (Opinion), and Washington Post at AllSides.com.
Source: AllSidesNow - 🏆 572. / 51 Read more »

Senators urged to step up after Supreme Court ruling on Navajo water rightsCrystalyne Curley told a Senate panel Wednesday that the Navajo Nation Council is 100 years old this year – and that the tribe’s fight for water access has been going on for at least that long.
Source: kgun9 - 🏆 584. / 51 Read more »

How Far Will the Supreme Court Go in Its New Term?In two core areas of constitutional conflict—gun rights and administrative powers—the court will determine whether its revolutionary doctrines will continue to expand or come to a resolution.
Source: commondreams - 🏆 530. / 51 Read more »