{"id":2245933,"date":"2024-05-16T12:25:02","date_gmt":"2024-05-16T16:25:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supreme-court-upholds-cfpb-funding-scheme-rejecting-conservative-challenge\/"},"modified":"2024-05-16T12:27:53","modified_gmt":"2024-05-16T16:27:53","slug":"supreme-court-upholds-cfpb-funding-scheme-rejecting-conservative-challenge","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supreme-court-upholds-cfpb-funding-scheme-rejecting-conservative-challenge\/","title":{"rendered":"Supreme Court confirms CFPB funding scheme, dismissing conservative challenge"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsupreme-court-upholds-cfpb-funding-scheme-rejecting-conservative-challenge%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2245933&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Supreme Court ruled that the funding system of the\u2062 Consumer \u200dFinancial Protection Bureau is constitutional. Justice \u200cClarence \u200bThomas led the 7-2 \u200bdecision, \u2062rejecting a challenge to the \u200cagency&#8217;s funding mechanism. The ruling overturned\u2064 a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-supreme-court-to-make-decision-on-case-as-20-attorneys-general-weigh-in\/\" title=\"US Supreme Court to decide as 20 AGs give input.\">lower court\u2062 decision<\/a>. The \u2063Supreme Court upheld \u200bthe constitutionality of the Consumer Financial Protection \u2064Bureau&#8217;s funding system in a 7-2 decision led by Justice \u200dClarence Thomas. The Court rejected a challenge to\u200b the agency&#8217;s \u200cfunding mechanism, overturning a previous lower\u2064 court ruling.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/supreme-court\" target=\"_blank\" rel=\"noreferrer noopener\">Supreme Court<\/a> on Thursday ruled the funding mechanism of the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cfpb\" target=\"_blank\" rel=\"noreferrer noopener\">Consumer Financial Protection Bureau<\/a> complies with the appropriations clause, reversing an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/third-degree-murder-charge-against-ex-cop-derek-chauvin-reinstated-by-appeals-court\/\" title=\"Third-Degree Murder Charge Against Ex-Cop Derek Chauvin Reinstated By Appeals Court\">appeals court decision<\/a> that found it unconstitutional.<\/p>\n<p>The 7-2 <a href=\"https:\/\/www.supremecourt.gov\/opinions\/23pdf\/22-448_o7jp.pdf\" target=\"_blank\" rel=\"noopener\" title>decision<\/a> by Justice Clarence Thomas rejected a broad case that sought to challenge the agency\u2019s funding mechanism, reversing a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-supreme-court-seems-to-favor-upholding-key-election-integrity-laws\/\" title=\"Report: Supreme Court Seems To Favor Upholding Key Election Integrity Laws\">lower-court ruling<\/a> that would have undermined the watchdog agency created by Congress 12 years ago. Republican-appointed Justices Samuel Alito and Neil Gorsuch dissented.<\/p>\n<p>The CFPB, formed amid the 2008 financial crisis to protect consumers from predatory banks and lenders, is funded by drawing money from the Federal Reserve after the CFPB director makes a request for the money he or she deems \u201creasonably necessary to carry out\u201d the bureau\u2019s duties. <\/p>\n<p>The lawsuit, <em>Consumer Financial Protection Bureau v. Community Financial Services Association of America, <\/em>was brought by key players in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elizabeth-warrens-controversial-financial-agency-unconstitutional-court-rules\/\" title=\"Elizabeth Warren\u2019s Controversial Financial Agency Unconstitutional, Court Rules\">payday lending industry<\/a> who say the CFPB is unconstitutionally funded by the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\" target=\"_blank\" rel=\"noreferrer noopener\">Fed<\/a> because most <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supreme-court-weighs-cfpb-legality-in-case-challenging-funding-of-financial-watchdog\/\" title=\"Supreme Court considers CFPB's legality in funding dispute.\">federal agencies receive appropriations<\/a> from Congress.<\/p>\n<p>Alito\u2019s dissent, joined by Gorsuch, complained that \u201ctoday\u2019s decision turns the Appropriations Clause into a minor vestige.\u201d<\/p>\n<p>The case involved a decision by the U.S. Court of Appeals for the 5th Circuit that said the funding mechanism Congress adopted to ensure the CFPB\u2019s independence was unconstitutional. A panel of three judges, nominees of former President Donald Trump, ruled in 2022 that the mechanism violated the Constitution\u2019s command requiring congressional appropriation of money. Their decision said the agency\u2019s insulation from congressional committees compiled on that violation.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>But a Supreme Court majority led by Thomas, a Republican-appointed justice, rejected this argument, saying that \u201can appropriation is simply a law that authorizes expenditures from a specified source of public money for designated purposes.\u201d <\/p>\n<p>\u201cThe statute that provides the Bureau\u2019s funding meets these requirements,\u201d the majority said.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday, the Supreme Court approved the Consumer Financial Protection Bureau&#8217;s funding approach, overturning a prior ruling that deemed it unconstitutional. The 7-2 decision led by Justice Clarence Thomas dismissed a broad challenge against the agency&#8217;s funding model, reversing a lower-court judgment<\/p>\n","protected":false},"author":2633,"featured_media":2245934,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/iStock-1488367477-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2245933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/iStock-1488367477-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2245933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2633"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2245933"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2245933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2245934"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2245933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2245933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2245933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}