Supreme Court will hear a case challenging CFPB funding

The Supreme Court has agreed to hear arguments in a case challenging the constitutionality of funding for the Consumer Financial Protection Bureau. The order taking the case comes four months after a federal appeals court panel unanimously ruled that the CFPB’s funding mechanism was unconstitutional.

The case, which concerns the Consumer Financial Protection Bureau, could ultimately lead to the dissolution of the agency, which lawmakers created in the wake of the 2008 financial crisis and was bestowed with broad powers to issue and enforce consumer protection rules in a variety of financial areas.