WASHINGTON (AP) — The Supreme Court on Thursday rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau.
The justices ruled 7-2 that the way the CFPB is funded does not violate the Constitution, reversing a lower court and drawing praises from consumers. Justice Clarence Thomas wrote the majority opinion, splitting with his frequent allies, Justices Samuel Alito and Neil Gorsuch, who dissented.
The CFPB was created after the 2008 financial crisis to regulate mortgages, car loans and other consumer finance. The case was brought by payday lenders who object to a bureau rule that limits their ability to withdraw funds directly from borrowers’ bank accounts. It’s among several major challenges to federal regulatory agencies on the docket this term for a court that has for more than a decade been open to limits on their operations.
New York's high court upholds requiring insurance to cover medically necessary abortions
Photo exhibition in Macao displays ancient civilization in Shanghai
Rare birds spotted in north China's wetland
WNBA will pay for flights for playoffs and back
Vikings seek new deal with Justin Jefferson; star WR absent so far from workouts, AP source says
Prominent New York church, sued for gender bias, moves forward with male pastor candidate
Closing prices for crude oil, gold and other commodities
Regular passenger flights between Taiyuan, Hong Kong to resume
It's so hot in Mexico that howler monkeys are falling dead from the trees
Hong Kong marks key education day on safeguarding national security
What to watch in Tueday's Maryland US Senate primaries
Shanghai to build complete care system for children with autism by 2027