By Aaron Nicodemus2024-05-16T20:03:00
The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.
In a 7-2 decision issued Thursday, the court overturned a ruling by the U.S. Fifth Circuit Court of Appeals that the agency’s funding mechanism violated the appropriations clause of the U.S. Constitution.
The CFPB, created by Congress as part of the Dodd-Frank Act of 2010, is funded from the earnings of the Federal Reserve System and is not part of the federal budget.
2025-02-03T21:18:00Z By Oscar Gonzalez
A fine by the Consumer Financial Protection Bureau (CFPB) against the U.S arm of London-based foreign exchange company Wise could be one of the agency’s final actions as a new regulatory regime reportedly froze rules and litigation amid calls for defunding.
2024-06-04T16:58:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.
2024-02-26T21:01:00Z By Kyle Brasseur
Installment lender World Acceptance Corp. was the subject of the Consumer Financial Protection Bureau’s first use of a dormant legal provision allowing it to establish supervisory authority over more nonbank financial companies.
2025-08-22T19:05:00Z By Adrianne Appel
Businesses operating in California will need to meet new, first-in-the-nation privacy requirements for cybersecurity, risk assessments, and automated decision-making technology, under a large expansion of rules by the state.
2025-08-18T17:44:00Z By Aly McDevitt
The U.S. Department of Justice has filed two lawsuits against the California Air Resources Board, claiming it no longer has the legal right to enforce strict emissions rules for heavy-duty trucks.
2025-08-14T15:13:00Z By Ruth Prickett
Navigating tariffs and sanctions is becoming a core part of compliance for many companies. As the U.S. and others use economic policies for political aims, compliance teams must adapt to this new geoeconomic trend.
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