Even some conservative justices sounded skeptical of arguments that the agency, created after the 2008 financial crisis to regulate mortgages, car loans and other consumer finance, violates the Constitution in the way it is funded.
Unlike most federal agencies, the consumer bureau does not rely on the annual budget process in Congress. Instead, it is funded directly by the Federal Reserve, with a current annual limit of around $600 million. While the U.S. Chamber of Commerce and some other business interests backed the payday lenders, mortgage bankers and other sectors regulated by the CFPB cautioned the court to avoid a broad ruling that could unsettle the markets.that Congress had improperly insulated the head of the bureau from removal. The justices said the director could be replaced by the president at will, but allowed the agency to continue to operate.
Clarence Thomas recused himself for the first time from a Jan. 6-related matter brought before the Supreme Court by his former law clerk John Eastman.Stephanie Grisham reacted to news that the former president will be present at start of the civil fraud trial on Monday.
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