Cfpb articles
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The Supreme Court smacks down the Fifth Circuit in a big CFPB case
The Supreme Court delivered a firm and unambiguous rebuke to some of America’s most reckless judges on Thursday, ruling those judges were wrong to declare an entire federal agency unconstitutional in a decision that threatened to trigger a second Great Depression. In a sensible world, no judge would have taken the plaintiffs arguments in CFPB v. Community Financial Services Association seriously. Briefly, they claimed that the Constitution limits Congress’s ability to enact “perpetual funding,”...
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CFPB Pays $384 Million to Victims of Think Finance Scheme
Eleven years ago, Think Finance was named one of Forbes’ most promising companies. Now, the online lender is bankrupt, with the Consumer Finance Protection Bureau (CFPB) saying it defrauded hundreds of thousands of consumers. The bureau on Tuesday (May 14) announced it had distributed more than $384 million from its victims relief fund to about 191,000 consumers who, according to […]
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Federal Regulations Remain Under Fire After Supreme Court’s CFPB Ruling
The Thursday (May 16) decision by the Supreme Court to uphold the funding mechanism of the Consumer Financial Protection Bureau (CFPB) has been hailed as a victory for supporters of robust federal regulation. However, these supporters remain uncertain about the future of federal agency powers, given the court’s conservative majority, Reuters reported Friday (May 17). Federal powers will be tested in […]