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.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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