FILE - Sen. Elizabeth Warren, D-Mass., speaks during the Senate Committee on Banking, Housing and Urban Affairs hearing at Capitol Hill in Washington, April 27, 2023. The Supreme Court on Tuesday seemed likely to preserve the work of the Consumer Financial Protection Bureau against a conservative-led challenge.
But a majority of the court appeared ready to reject the sweeping arguments made by the lawyer for payday lenders whose challenge to a CFPB rule spawned the Supreme Court case. A ruling for the agency also would quiet concerns about the validity of the CFPB’s actions since its creation. Embracing that ruling, lawyer Noel Francisco said on behalf of the lenders Tuesday that Congress can't hand so much power to an executive branch agency. “This is a perpetual delegation to pick your own number,” said Francisco, who served as the Trump administration's top Supreme Court lawyer.“Congress could change it tomorrow. There’s nothing permanent or perpetual about this,” Justice Brett Kavanaugh said.
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